Analysts Set iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) PT at $1.73

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $1.73.

A number of equities analysts have recently commented on IQ shares. Wall Street Zen raised shares of iQIYI from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $1.40 price objective on shares of iQIYI in a report on Thursday, August 20th. JPMorgan Chase & Co. reduced their target price on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a research report on Wednesday, August 19th.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently modified their holdings of the company. Triata Capital Ltd purchased a new stake in iQIYI in the second quarter worth approximately $1,152,419. Catalyst Funds Management Pty Ltd bought a new stake in shares of iQIYI in the 4th quarter worth approximately $1,205,000. Squarepoint Ops LLC lifted its holdings in shares of iQIYI by 831.3% in the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock worth $619,000 after acquiring an additional 530,983 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of iQIYI in the 2nd quarter valued at $580,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after purchasing an additional 22,662 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Trading Up 0.5%

Shares of iQIYI stock opened at $1.00 on Wednesday. iQIYI has a 1 year low of $0.86 and a 1 year high of $2.73. The firm has a market cap of $964.91 million, a PE ratio of -8.33 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. The company has a 50 day simple moving average of $1.13 and a two-hundred day simple moving average of $1.18.

iQIYI Company Profile

iQIYI, Inc is a China-based online entertainment company that operates a streaming video platform through its website and mobile applications. The company offers professionally produced and user-generated video content, including television dramas, films, variety programs, anime, sports and other entertainment programming.

iQIYI develops and distributes original programming while also licensing content from third-party producers and studios. Its services include advertising-supported viewing, subscription-based membership offerings and premium content features.