iQIYI (NASDAQ:IQ) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of iQIYI (NASDAQ:IQ) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other research firms have also recently issued reports on IQ. Jefferies Financial Group reiterated a “buy” rating and issued a $2.22 target price on shares of iQIYI in a research note on Thursday, February 26th. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Stock Performance

IQ stock opened at $1.41 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -47.00 and a beta of 0.26. iQIYI has a 1 year low of $1.18 and a 1 year high of $2.84. The stock’s fifty day moving average is $1.48 and its two-hundred day moving average is $1.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after acquiring an additional 5,077 shares during the period. Public Employees Retirement System of Ohio grew its holdings in iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after acquiring an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI during the fourth quarter worth about $1,205,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 worth $4,864,000 after acquiring an additional 1,716,011 shares during the period. Finally, Marshall Wace LLP grew its holdings in iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after acquiring an additional 2,626,502 shares during the period. 52.69% of the stock is owned by institutional investors and hedge funds.

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.