iQIYI (NASDAQ:IQ) Trading Up 3.3% - Time to Buy?

iQIYI, Inc. (NASDAQ:IQ - Get Free Report)'s share price rose 3.3% during trading on Thursday . The stock traded as high as $2.19 and last traded at $2.18. Approximately 1,926,082 shares changed hands during trading, a decline of 85% from the average daily volume of 12,769,712 shares. The stock had previously closed at $2.11.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IQ shares. Benchmark reiterated a "hold" rating on shares of iQIYI in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut their target price on iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $3.15.

iQIYI Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market capitalization of $2.03 billion, a P/E ratio of 10.60, a PEG ratio of 0.60 and a beta of 0.02. The company's fifty day simple moving average is $2.29 and its 200-day simple moving average is $2.79.

Institutional Investors Weigh In On iQIYI

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