iQIYI, Inc. (NASDAQ:IQ - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $1.88 and last traded at $1.89, with a volume of 11823122 shares trading hands. The stock had previously closed at $2.02.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on IQ. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Friday, November 22nd. OTR Global reiterated a "negative" rating on shares of iQIYI in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating on the stock in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $3.15.
Check Out Our Latest Research Report on IQ
iQIYI Stock Down 5.9 %
The firm has a 50 day moving average price of $2.16 and a two-hundred day moving average price of $2.63. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65.
Institutional Investors Weigh In On iQIYI
Institutional investors have recently made changes to their positions in the company. Genesis Investment Management LLP grew its stake in iQIYI by 112.1% during the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock worth $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Quarry LP acquired a new stake in iQIYI in the second quarter worth about $18,075,000. Federated Hermes Inc. grew its position in iQIYI by 18.9% in the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company's stock valued at $58,929,000 after buying an additional 2,549,287 shares in the last quarter. Monolith Management Ltd bought a new position in shares of iQIYI in the third quarter valued at approximately $4,576,000. Finally, The Manufacturers Life Insurance Company raised its holdings in iQIYI by 185.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company's stock worth $7,803,000 after purchasing an additional 1,381,265 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors.
About iQIYI
(
Get Free Report)
iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.
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