iQIYI (NASDAQ:IQ) Trading 4.3% Higher - Time to Buy?

iQIYI, Inc. (NASDAQ:IQ - Get Free Report)'s stock price shot up 4.3% during trading on Tuesday . The stock traded as high as $2.19 and last traded at $2.18. 6,310,278 shares changed hands during trading, a decline of 51% from the average session volume of 12,798,565 shares. The stock had previously closed at $2.09.

Analyst Ratings Changes

Several brokerages have recently issued reports on IQ. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Friday, November 22nd. JPMorgan Chase & Co. decreased 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. Nomura Securities raised shares of iQIYI to a "hold" rating in a report on Monday, August 26th. Finally, The Goldman Sachs Group lowered iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 price objective for the company. in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $3.15.

iQIYI Stock Up 2.4 %

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 $2.05 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02. The company has a 50-day moving average of $2.36 and a 200-day moving average of $2.89.

Institutional Trading of iQIYI

Several large investors have recently bought and sold shares of IQ. Skandinaviska Enskilda Banken AB publ acquired a new stake in iQIYI in the 2nd quarter valued at approximately $31,000. Flow Traders U.S. LLC acquired a new position in iQIYI during the 3rd quarter worth about $32,000. Ground Swell Capital LLC purchased a new position in iQIYI during the 3rd quarter valued at about $32,000. Seven Eight Capital LP acquired a new position in iQIYI in the 2nd quarter valued at about $42,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in iQIYI during the second quarter worth about $46,000. Hedge funds and other institutional investors 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.