iQIYI (NASDAQ:IQ) Raised to Hold at HSBC

iQIYI (NASDAQ:IQ - Get Free Report) was upgraded by stock analysts at HSBC from a "reduce" rating to a "hold" rating in a report issued on Thursday, MarketBeat reports. The brokerage presently has a $2.15 price objective on the stock. HSBC's target price points to a potential upside of 10.82% from the company's current price.

IQ has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target 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. Benchmark reiterated a "hold" rating on shares of iQIYI in a report on Friday, November 22nd. Finally, OTR Global restated a "negative" rating on shares of iQIYI in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.91.

iQIYI Trading Up 3.7 %

IQ stock traded up $0.07 during midday trading on Thursday, hitting $1.94. 29,442,138 shares of the company's stock were exchanged, compared to its average volume of 15,403,653. iQIYI has a one year low of $1.82 and a one year high of $5.80. The stock's fifty day moving average price is $2.10 and its 200-day moving average price is $2.58. The company has a market cap of $1.86 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of iQIYI in the second quarter valued at about $31,000. Sei Investments Co. increased its position in iQIYI by 10.1% during the 2nd quarter. Sei Investments Co. now owns 112,270 shares of the company's stock worth $412,000 after purchasing an additional 10,342 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in iQIYI by 6.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company's stock valued at $687,000 after buying an additional 10,700 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of iQIYI during the third quarter valued at $32,000. Finally, Ground Swell Capital LLC acquired a new position in iQIYI during the 3rd quarter worth about $32,000. 52.69% of the stock is owned by institutional investors and hedge funds.

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.