iQIYI (NASDAQ:IQ) Reaches New 1-Year Low – Should You Sell?

iQIYI, Inc. (NASDAQ:IQ) shares reached a new 52-week low on Friday . The company traded as low as $1.88 and last traded at $1.89, with a volume of 11823122 shares traded. The stock had previously closed at $2.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IQ shares. OTR Global restated a “negative” rating on shares of iQIYI in a research note on Wednesday. Benchmark restated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, iQIYI presently has a consensus rating of “Hold” and a consensus price target of $3.15.

iQIYI Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The business’s fifty day moving average price is $2.17 and its 200-day moving average price is $2.64. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.58 and a beta of 0.02.

Hedge Funds Weigh In On iQIYI

Hedge funds have recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in iQIYI in the second quarter valued at about $31,000. Flow Traders U.S. LLC purchased a new position in iQIYI in the third quarter valued at approximately $32,000. Ground Swell Capital LLC bought a new position in iQIYI during the third quarter valued at $32,000. Seven Eight Capital LP purchased a new stake in iQIYI in the second quarter worth $42,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in iQIYI in the second quarter worth $46,000. Institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.