iQIYI (NASDAQ:IQ) Reaches New 12-Month Low – Here’s What Happened

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $0.9806 and last traded at $0.9930, with a volume of 4787209 shares changing hands. The stock had previously closed at $1.01.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research cut iQIYI from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Tuesday, May 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a research report on Thursday, February 26th. Wall Street Zen lowered shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.55.

iQIYI Stock Performance

The firm has a market cap of $953.33 million, a price-to-earnings ratio of -9.88 and a beta of 0.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a fifty day simple moving average of $1.14 and a two-hundred day simple moving average of $1.53.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in shares of iQIYI by 20.8% during the fourth 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. Public Employees Retirement System of Ohio raised its stake in iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after acquiring an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp lifted its position in iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after acquiring an additional 22,662 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI during the 4th quarter valued at about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 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.