iQIYI (NASDAQ:IQ) Shares Down 4.5% - Here's What Happened

iQIYI, Inc. (NASDAQ:IQ - Get Free Report)'s stock price fell 4.5% on Friday . The stock traded as low as $2.24 and last traded at $2.22. 2,640,147 shares traded hands during trading, a decline of 87% from the average session volume of 20,620,998 shares. The stock had previously closed at $2.32.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IQ. OTR Global restated a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a report on Friday, November 22nd. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. Citigroup dropped their price target 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, Benchmark reaffirmed a "hold" rating on shares of iQIYI in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $2.91.

iQIYI Stock Up 5.7 %

The firm's 50 day moving average price is $2.09 and its two-hundred day moving average price is $2.43. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2.12 billion, a P/E ratio of 11.05, a PEG ratio of 3.50 and a beta of 0.03.

iQIYI (NASDAQ:IQ - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. iQIYI had a return on equity of 13.26% and a net margin of 4.69%. During the same period in the prior year, the firm posted $0.07 earnings per share. Equities research analysts forecast that iQIYI, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On iQIYI

Several hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. grew its holdings in iQIYI by 4.8% in 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 buying an additional 1,114,390 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in iQIYI during the third quarter worth about $835,000. BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 815,226 shares in the last quarter. Genesis Investment Management LLP boosted its holdings in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock valued at $47,425,000 after purchasing an additional 8,765,711 shares during the period. Finally, SG Americas Securities LLC grew its position in iQIYI by 8,351.7% during the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company's stock worth $2,875,000 after buying an additional 993,355 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company's stock.

iQIYI Company Profile

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.