iQIYI (NASDAQ:IQ) Trading 4% Higher - Still a Buy?

iQIYI, Inc. (NASDAQ:IQ - Get Free Report)'s share price rose 4% on Tuesday . The stock traded as high as $1.72 and last traded at $1.71. Approximately 12,277,185 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 20,309,191 shares. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

IQ has been the topic of a number of analyst reports. Hsbc Global Res upgraded shares of iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. OTR Global reaffirmed a "negative" rating on shares of iQIYI in a 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. Citigroup reduced their price objective on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, Benchmark reaffirmed a "hold" rating on shares of iQIYI in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.91.

iQIYI Price Performance

The business's 50-day simple moving average is $2.13 and its two-hundred day simple moving average is $2.22. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 4.13 and a beta of -0.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45.

iQIYI (NASDAQ:IQ - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The company had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. Research analysts expect that iQIYI, Inc. will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On iQIYI

Several institutional investors and hedge funds have recently added to or reduced their stakes in IQ. FMR LLC raised its position in shares of iQIYI by 738.1% during the third quarter. FMR LLC now owns 137,793 shares of the company's stock worth $394,000 after acquiring an additional 121,352 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of iQIYI by 102.9% in the 3rd quarter. HighTower Advisors LLC now owns 19,840 shares of the company's stock valued at $56,000 after purchasing an additional 701,901 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of iQIYI during the third quarter worth $88,000. Geode Capital Management LLC raised its stake in iQIYI by 3.6% during the third quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company's stock worth $9,256,000 after buying an additional 112,709 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in iQIYI in the third quarter valued at $282,000. 52.69% of the stock is currently 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.