iQIYI (NASDAQ:IQ) Upgraded by Zacks Research to “Hold” Rating

iQIYI (NASDAQ:IQ) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports on IQ. Morgan Stanley set a $2.10 price objective on iQIYI in a research report on Wednesday, November 19th. Jefferies Financial Group restated a “buy” rating and set a $2.22 target price on shares of iQIYI in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $2.55.

iQIYI Price Performance

Shares of iQIYI stock opened at $1.31 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.44 and a current ratio of 0.47. The firm’s 50-day simple moving average is $1.84 and its 200-day simple moving average is $2.12. The firm has a market cap of $1.26 billion, a P/E ratio of -43.67 and a beta of 0.10. iQIYI has a twelve month low of $1.26 and a twelve month high of $2.84.

Hedge Funds Weigh In On iQIYI

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in 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 period. SBI Securities Co. Ltd. lifted its stake in iQIYI by 199.7% in the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock valued at $80,000 after buying an additional 29,999 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of iQIYI by 1.6% in the third 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 acquired a new stake in shares of iQIYI during the fourth quarter worth $1,205,000. Finally, SG Americas Securities LLC lifted its holdings in shares of iQIYI by 33.0% in the second quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after purchasing an additional 390,088 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.