iQIYI (NASDAQ:IQ) Trading 3.8% Higher - Here's Why

iQIYI, Inc. (NASDAQ:IQ - Get Free Report) shares were up 3.8% on Wednesday . The stock traded as high as $2.30 and last traded at $2.30. Approximately 6,591,744 shares were traded during trading, a decline of 62% from the average daily volume of 17,342,941 shares. The stock had previously closed at $2.21.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IQ. Benchmark reiterated a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. OTR Global reissued a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Citigroup reduced their target price on iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a report on Thursday, January 16th. HSBC raised iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target 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 note on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.91.

iQIYI Price Performance

The business has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.28. The stock has a market cap of $2.16 billion, a PE ratio of 22.50, a PEG ratio of 4.13 and a beta of 0.05. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IQ. Flow Traders U.S. LLC purchased a new stake in shares of iQIYI in the third quarter worth $32,000. SBI Securities Co. Ltd. bought a new stake in shares of iQIYI during the 4th quarter valued at about $32,000. Vident Advisory LLC purchased a new position in shares of iQIYI during the fourth quarter worth about $33,000. PDS Planning Inc bought a new position in shares of iQIYI in the fourth quarter worth approximately $35,000. Finally, BTG Pactual Asset Management US LLC bought a new position in shares of iQIYI in the 4th quarter worth $37,000. 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.