iQIYI (NASDAQ:IQ) Shares Up 7% – What’s Next?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) was up 7% on Wednesday . The company traded as high as $2.10 and last traded at $2.0550. Approximately 7,304,400 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 10,507,329 shares. The stock had previously closed at $1.92.

Analyst Ratings Changes

A number of research firms have weighed in on IQ. Morgan Stanley set a $2.10 price objective on shares of iQIYI in a research report on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, iQIYI presently has an average rating of “Hold” and an average target price of $2.64.

iQIYI Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a market capitalization of $1.94 billion, a PE ratio of -33.50 and a beta of 0.03. The company’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $2.17.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its position in shares of iQIYI by 199.7% during the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after purchasing an additional 29,999 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in iQIYI by 48.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 425,400 shares of the company’s stock worth $753,000 after buying an additional 138,300 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of iQIYI by 33.0% during the second quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after acquiring an additional 390,088 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of iQIYI by 393.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after acquiring an additional 1,716,011 shares in the last quarter. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

iQIYI Company Profile

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.