iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Stock Has Consensus Price Target of $1.73

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have received a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $1.73.

A number of brokerages have issued reports on IQ. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research note on Monday, September 21st. JPMorgan Chase & Co. dropped their price target on shares of 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 report on Monday, July 20th. The Goldman Sachs Group reiterated a “neutral” rating and set a $1.40 price objective on shares of iQIYI in a report on Thursday, August 20th. Finally, Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Wednesday, August 19th.

iQIYI Trading Up 4.4%

NASDAQ:IQ opened at $0.92 on Thursday. The stock’s 50-day moving average is $0.96 and its two-hundred day moving average is $1.25. iQIYI has a fifty-two week low of $0.81 and a fifty-two week high of $2.30. The stock has a market cap of $886.27 million, a PE ratio of -7.65 and a beta of 0.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of iQIYI during the 2nd quarter valued at about $58,000. Public Employees Retirement System of Ohio increased its holdings in shares of iQIYI by 2.5% in the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after purchasing an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 worth $721,000 after purchasing an additional 22,662 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of iQIYI by 831.3% in the second quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock worth $619,000 after purchasing an additional 530,983 shares during the last quarter. Finally, Triata Capital Ltd purchased a new stake in shares of iQIYI in the second quarter worth about $1,152,419. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Company Profile

iQIYI, Inc is a Chinese online entertainment company that operates the iQIYI streaming platform. The company provides internet video services, including professionally produced television dramas, films, variety shows, documentaries, anime and other entertainment programming. Its content is available through websites and mobile applications, with offerings supported by subscription memberships, advertising and other content-related services.

iQIYI develops and licenses content, including original productions created through its in-house studios and programming obtained from external producers and rights holders.