iQIYI (NASDAQ:IQ) Sees Large Volume Increase - Time to Buy?

Shares of iQIYI, Inc. (NASDAQ:IQ - Get Free Report) saw strong trading volume on Thursday . 39,137,721 shares traded hands during mid-day trading, an increase of 122% from the previous session's volume of 17,594,195 shares.The stock last traded at $2.39 and had previously closed at $2.24.

Analyst Ratings Changes

Several research firms recently weighed in on IQ. Benchmark reissued a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. HSBC raised shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 target price on the stock in a report on Thursday, January 16th. OTR Global reissued a "negative" rating on shares of iQIYI in a report on Wednesday, January 8th. Citigroup cut their price objective on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Hsbc Global Res upgraded iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $2.91.

iQIYI Price Performance

The company has a fifty day simple moving average of $2.26 and a 200 day simple moving average of $2.28. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 4.13 and a beta of 0.05. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

Remove Ads

iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $919.56 million for the quarter, compared to analysts' expectations of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Equities research analysts forecast that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its stake in iQIYI by 4.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock valued at $48,959,000 after purchasing an additional 1,114,390 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new stake in shares of iQIYI during the third quarter worth about $835,000. BNP Paribas Financial Markets raised its holdings in shares of iQIYI by 77.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company's stock worth $5,354,000 after acquiring an additional 815,226 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in iQIYI during the 4th quarter valued at about $468,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of iQIYI by 13.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company's stock worth $6,489,000 after purchasing an additional 393,834 shares during the last quarter. 52.69% of the stock is owned by institutional investors.

About iQIYI

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.