iQIYI (NASDAQ:IQ) Trading 3.8% Higher – Time to Buy?

iQIYI, Inc. (NASDAQ:IQ)’s share price was up 3.8% on Wednesday . The stock traded as high as $2.30 and last traded at $2.30. Approximately 6,591,744 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 17,342,941 shares. The stock had previously closed at $2.21.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IQ shares. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a research report on Thursday, January 16th. Hsbc Global Res raised iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Citigroup reduced their target price on iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. OTR Global restated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note 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.com, iQIYI has an average rating of “Hold” and an average price target of $2.91.

iQIYI Stock Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The stock has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.27. The firm has a market capitalization of $2.27 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.13 and a beta of 0.05.

iQIYI (NASDAQ:IQ) 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. The company had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. On average, research analysts predict that iQIYI, Inc. will post 0.04 EPS for the current year.

Institutional Trading of iQIYI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its holdings in iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after buying an additional 7,645 shares during the last quarter. IvyRock Asset Management HK Ltd increased its position in shares of iQIYI by 20.0% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock worth $121,000 after acquiring an additional 10,000 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of iQIYI in the 3rd quarter worth about $32,000. SBI Securities Co. Ltd. bought a new position in iQIYI in the 4th quarter valued at about $32,000. Finally, Vident Advisory LLC bought a new position in iQIYI in the 4th quarter valued at about $33,000. 52.69% of the stock is owned by institutional investors.

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.