iQIYI (NASDAQ:IQ) Trading Down 4.6% – Time to Sell?

iQIYI, Inc. (NASDAQ:IQ) shares were down 4.6% during mid-day trading on Friday . The stock traded as low as $2.48 and last traded at $2.49. Approximately 7,523,507 shares changed hands during trading, a decline of 34% from the average daily volume of 11,467,938 shares. The stock had previously closed at $2.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark downgraded shares of iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research note on Tuesday, August 27th. Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. Nomura Securities upgraded iQIYI to a “hold” rating in a research report on Monday, August 26th. Finally, HSBC lowered iQIYI from a “hold” rating to a “reduce” rating and lowered their price objective for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, iQIYI presently has an average rating of “Hold” and a consensus target price of $3.45.

iQIYI Stock Down 5.7 %

The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 0.71 and a beta of 0.08. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The business has a fifty day moving average of $2.42 and a 200 day moving average of $3.48.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $0.05 EPS. As a group, equities analysts predict that iQIYI, Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of iQIYI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IQ. Genesis Investment Management LLP grew its position in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after acquiring an additional 8,765,711 shares in the last quarter. Quarry LP acquired a new position in shares of iQIYI in the second quarter valued at approximately $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. lifted its holdings 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after buying an additional 1,381,265 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.