iQIYI (NASDAQ:IQ) Reaches New 1-Year Low – Here’s What Happened

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) reached a new 52-week low during trading on Monday . The stock traded as low as $1.4750 and last traded at $1.5450, with a volume of 4339412 shares changing hands. The stock had previously closed at $1.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Morgan Stanley set a $2.10 price target on iQIYI in a research report on Wednesday, November 19th. Jefferies Financial Group reissued a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.55.

iQIYI Stock Down 4.1%

The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $1.94 and a 200-day moving average of $2.18. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -51.17 and a beta of 0.09.

Institutional Investors Weigh In On iQIYI

Several large investors have recently made changes to their positions in IQ. Parallel Advisors LLC grew its holdings in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after buying an additional 5,077 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of iQIYI by 199.7% in the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock valued at $80,000 after acquiring an additional 29,999 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after acquiring an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in iQIYI during the fourth quarter worth approximately $1,205,000. Finally, SG Americas Securities LLC lifted its position in iQIYI by 33.0% in the second quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock worth $2,781,000 after purchasing an additional 390,088 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

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.