iQIYI (NASDAQ:IQ) Trading Up 10.9% – Should You Buy?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares traded up 10.9% during mid-day trading on Tuesday . The stock traded as high as $0.9668 and last traded at $0.9760. Approximately 4,007,776 shares changed hands during trading, a decline of 54% from the average session volume of 8,714,805 shares. The stock had previously closed at $0.88.

Analysts Set New Price Targets

IQ has been the subject of a number of research reports. Wall Street Zen raised shares of iQIYI from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. lowered their price target on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Wednesday, August 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.73.

iQIYI Price Performance

The firm has a market capitalization of $944.65 million, a PE ratio of -8.26 and a beta of 0.19. The stock’s 50 day simple moving average is $1.14 and its two-hundred day simple moving average is $1.21. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.45 and a current ratio of 0.45.

Institutional Trading of iQIYI

Large investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in iQIYI by 393.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after purchasing an additional 1,716,011 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after buying an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of iQIYI in the 4th quarter valued at approximately $1,205,000. Parallel Advisors LLC increased its holdings in shares of iQIYI by 20.8% during the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after buying an additional 5,077 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of iQIYI during the 4th quarter valued at approximately $8,488,000. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

About iQIYI

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.