iQIYI, Inc. (NASDAQ:IQ - Get Free Report)'s share price traded up 7.9% during mid-day trading on Tuesday . The company traded as high as $2.61 and last traded at $2.60. 5,608,297 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 11,383,493 shares. The stock had previously closed at $2.41.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. The Goldman Sachs Group cut shares of iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 target price for the company. in a report on Tuesday, August 27th. HSBC cut shares of iQIYI from a "hold" rating to a "reduce" rating and dropped their target price for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. Nomura Securities raised shares of iQIYI to a "hold" rating in a research note on Monday, August 26th. Hsbc Global Res cut shares of iQIYI from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, iQIYI currently has a consensus rating of "Hold" and an average target price of $3.45.
Check Out Our Latest Stock Analysis on IQ
iQIYI Stock Performance
The company has a market cap of $2.48 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 0.70 and a beta of 0.07. The stock's fifty day simple moving average is $2.49 and its two-hundred day simple moving average is $3.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53.
iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.05). The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same quarter last year, the business earned $0.05 EPS. Equities research analysts anticipate that iQIYI, Inc. will post 0.16 EPS for the current year.
Hedge Funds Weigh In On iQIYI
Several hedge funds and other institutional investors have recently made changes to their positions in IQ. Genesis Investment Management LLP increased its stake in iQIYI by 112.1% during the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock worth $47,425,000 after buying an additional 8,765,711 shares during the period. Quarry LP purchased a new stake in iQIYI during the 2nd quarter worth $18,075,000. Maple Rock Capital Partners Inc. increased its stake in iQIYI by 65.4% during the 1st quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company's stock worth $43,654,000 after buying an additional 4,080,000 shares during the period. Federated Hermes Inc. increased its stake in iQIYI by 18.9% during the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company's stock worth $58,929,000 after buying an additional 2,549,287 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in iQIYI by 185.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company's stock worth $7,803,000 after buying an additional 1,381,265 shares during the period. Institutional investors and hedge funds own 52.69% of the company's stock.
About iQIYI
(
Get Free Report)
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.
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