iQIYI (NASDAQ:IQ) Stock Price Up 10.1%

iQIYI, Inc. (NASDAQ:IQGet Rating) rose 10.1% during trading on Tuesday . The stock traded as high as $3.16 and last traded at $3.15. Approximately 440,931 shares changed hands during trading, a decline of 98% from the average daily volume of 20,810,059 shares. The stock had previously closed at $2.86.

IQ has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of iQIYI from a “buy” rating to a “hold” rating in a research note on Thursday, March 24th. HSBC decreased their price objective on shares of iQIYI from $8.10 to $4.80 in a report on Friday, January 14th. The Goldman Sachs Group started coverage on shares of iQIYI in a research note on Sunday, April 10th. They issued a “hold” rating and a $6.20 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of iQIYI from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $2.00 in a research report on Monday, March 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.57.

The company’s 50 day moving average price is $3.85 and its 200 day moving average price is $4.92. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -2.19 and a beta of 0.90.

iQIYI (NASDAQ:IQGet Rating) last posted its earnings results on Tuesday, March 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. iQIYI had a negative net margin of 20.28% and a negative return on equity of 77.71%. As a group, analysts expect that iQIYI, Inc. will post -0.38 earnings per share for the current year.

Several institutional investors have recently modified their holdings of IQ. CoreView Capital Management Ltd acquired a new position in shares of iQIYI in the fourth quarter worth about $85,872,000. Boyu Capital Investment Management Co. Ltd acquired a new stake in iQIYI in the 4th quarter worth about $4,955,000. One Fin Capital Management LP purchased a new stake in iQIYI during the 4th quarter worth approximately $3,645,000. Nut Tree Capital Management LP acquired a new position in shares of iQIYI during the third quarter valued at approximately $16,222,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of iQIYI by 344.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,799,900 shares of the company’s stock valued at $46,573,000 after acquiring an additional 4,493,546 shares in the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

iQIYI Company Profile (NASDAQ:IQ)

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.

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