iQIYI (NASDAQ:IQ) Raised to “Sell” at Wall Street Zen

iQIYI (NASDAQ:IQ) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the company. Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. decreased their target price on iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a research report on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $1.40 target price on shares of iQIYI in a research report on Thursday. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $1.73.

iQIYI Price Performance

NASDAQ IQ opened at $1.05 on Friday. iQIYI has a fifty-two week low of $0.95 and a fifty-two week high of $2.84. The stock’s 50-day moving average is $1.16 and its two-hundred day moving average is $1.29. The firm has a market cap of $1.02 billion, a P/E ratio of -8.79 and a beta of 0.19. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45.

Institutional Investors Weigh In On iQIYI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of iQIYI in the fourth quarter worth about $8,488,000. Marshall Wace LLP boosted its stake in iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after purchasing an additional 2,626,502 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in iQIYI by 393.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after purchasing an additional 1,716,011 shares during the period. Triata Capital Ltd acquired a new stake in iQIYI in the 2nd quarter valued at approximately $1,152,419,000. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI in the 4th quarter valued at approximately $1,205,000. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Company Profile

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.