iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Stock Now Rated “Hold” by Sell-Side Brokerages

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) has received a consensus rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year 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 the company. Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Monday, September 21st. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. JPMorgan Chase & Co. decreased their price target on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $1.40 price target on shares of iQIYI in a report on Thursday, August 20th.

Institutional Investors Weigh In On iQIYI

Large investors have recently modified their holdings of the company. Triata Capital Ltd purchased a new position in shares of iQIYI during the 2nd quarter worth approximately $1,152,419. 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 valued at $619,000 after buying an additional 530,983 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of iQIYI in the 2nd quarter valued at approximately $580,000. Tidal Investments LLC purchased a new stake in shares of iQIYI in the second quarter valued at approximately $58,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares in the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Stock Performance

NASDAQ IQ opened at $1.02 on Friday. The stock has a market cap of $984.21 million, a PE ratio of -8.50 and a beta of 0.13. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81. iQIYI has a twelve month low of $0.86 and a twelve month high of $2.37. The stock has a fifty day simple moving average of $1.07 and a 200-day simple moving average of $1.13.

About iQIYI

iQIYI, Inc is a Chinese online entertainment and video platform that provides streaming content through its website and mobile applications. The company offers professionally produced and licensed films, television dramas, variety programs, animations, sports content and other entertainment programming, along with user-generated and short-form video in selected services.

iQIYI generates revenue primarily through membership services, online advertising, content distribution and other digital entertainment offerings.