iQIYI (NASDAQ:IQ) Trading Up 9% – What’s Next?

iQIYI, Inc. (NASDAQ:IQ)’s share price shot up 9% during trading on Thursday . The stock traded as high as $2.30 and last traded at $2.35. 6,020,857 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 20,353,893 shares. The stock had previously closed at $2.16.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IQ. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday, January 24th. 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. Citigroup decreased their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Thursday, January 16th. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, iQIYI currently has an average rating of “Hold” and a consensus target price of $2.91.

iQIYI Trading Up 7.2 %

The company has a market cap of $2.22 billion, a P/E ratio of 11.63, a P/E/G ratio of 3.15 and a beta of 0.02. The business has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $2.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

iQIYI (NASDAQ:IQ) last issued its earnings results on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period in the previous year, the company earned $0.07 EPS. Analysts anticipate that iQIYI, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Garden State Investment Advisory Services LLC acquired a new position in shares of iQIYI during the third quarter valued at approximately $835,000. BNP Paribas Financial Markets increased its position in shares of iQIYI by 77.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after purchasing an additional 815,226 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after buying an additional 694,349 shares in the last quarter. Genesis Investment Management LLP lifted its holdings in shares of iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of iQIYI by 4.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock valued at $48,959,000 after buying an additional 1,114,390 shares during the period. Institutional investors and hedge funds 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.