iQIYI (NASDAQ:IQ) Stock Price Up 6.2% - Should You Buy?

iQIYI, Inc. (NASDAQ:IQ - Get Free Report) was up 6.2% during trading on Thursday . The company traded as high as $2.34 and last traded at $2.31. Approximately 4,434,396 shares changed hands during trading, a decline of 80% from the average daily volume of 22,052,561 shares. The stock had previously closed at $2.17.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Friday, January 24th. Citigroup cut their target price 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. OTR Global reissued a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. HSBC raised 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. Finally, Hsbc Global Res raised iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.91.

iQIYI Price Performance

The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 3.76 and a beta of 0.03. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The stock's 50 day simple moving average is $2.11 and its two-hundred day simple moving average is $2.39.

iQIYI (NASDAQ:IQ - Get Free Report) last posted its earnings results on Thursday, November 21st. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period in the previous year, the company earned $0.07 EPS. On average, analysts forecast that iQIYI, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently bought and sold shares of IQ. Corient Private Wealth LLC boosted its position in iQIYI by 37.3% in the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock valued at $57,000 after buying an additional 7,645 shares during the last quarter. Flow Traders U.S. LLC bought a new position in iQIYI in the third quarter valued at about $32,000. Ground Swell Capital LLC acquired a new stake in iQIYI in the third quarter worth about $32,000. SBI Securities Co. Ltd. bought a new stake in iQIYI during the 4th quarter worth about $32,000. Finally, Ballentine Partners LLC bought a new position in shares of iQIYI in the 4th quarter valued at about $47,000. 52.69% of the stock is owned by institutional investors and hedge funds.

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.