IQIYI Inc (NASDAQ:IQ) Short Interest Down 7.5% in November

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IQIYI Inc (NASDAQ:IQ) was the recipient of a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 48,910,000 shares, a decrease of 7.5% from the November 14th total of 52,860,000 shares. Approximately 15.5% of the shares of the stock are sold short. Based on an average trading volume of 6,176,200 shares, the short-interest ratio is currently 7.9 days.

IQ has been the topic of a number of recent analyst reports. UBS Group raised IQIYI from a “neutral” rating to a “buy” rating in a report on Monday, November 11th. Zacks Investment Research raised IQIYI from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. CLSA lowered IQIYI from an “outperform” rating to an “underperform” rating in a report on Thursday, November 7th. ValuEngine lowered IQIYI from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Morgan Stanley began coverage on IQIYI in a report on Monday, December 2nd. They issued an “equal weight” rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.23.

NASDAQ IQ traded up $0.41 during trading hours on Friday, hitting $20.40. 8,606,758 shares of the company’s stock were exchanged, compared to its average volume of 5,368,721. The business’s 50 day moving average is $18.65 and its 200-day moving average is $18.21. IQIYI has a 12-month low of $14.35 and a 12-month high of $29.18. The firm has a market capitalization of $14.50 billion, a P/E ratio of -8.26 and a beta of 2.92. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.05.

IQIYI (NASDAQ:IQ) last released its earnings results on Wednesday, November 6th. The company reported ($5.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($4.30). IQIYI had a negative return on equity of 72.51% and a negative net margin of 39.47%. The business had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.23 billion. During the same quarter last year, the company posted ($0.62) earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that IQIYI will post -2.13 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of IQ. Steward Partners Investment Advisory LLC acquired a new stake in shares of IQIYI in the second quarter valued at about $99,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of IQIYI by 2.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 459,218 shares of the company’s stock valued at $9,483,000 after buying an additional 11,325 shares in the last quarter. First Trust Advisors LP grew its stake in shares of IQIYI by 20.4% in the second quarter. First Trust Advisors LP now owns 112,293 shares of the company’s stock valued at $2,319,000 after buying an additional 19,036 shares in the last quarter. KBC Group NV acquired a new stake in shares of IQIYI in the second quarter valued at about $784,000. Finally, Aperio Group LLC acquired a new stake in IQIYI during the 2nd quarter valued at approximately $419,000. Institutional investors and hedge funds own 24.29% of the company’s stock.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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