iQIYI (NASDAQ:IQ) Stock Rating Lowered by Zacks Research

iQIYI (NASDAQ:IQ) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Wall Street Zen cut shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Jefferies Financial Group restated a “buy” rating and set a $2.22 price objective on shares of iQIYI in a research report on Thursday, February 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.55.

iQIYI Price Performance

Shares of iQIYI stock opened at $1.08 on Wednesday. The firm has a market cap of $1.04 billion, a PE ratio of -10.80 and a beta of 0.19. iQIYI has a twelve month low of $1.03 and a twelve month high of $2.84. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $1.22 and a 200 day moving average price of $1.64.

Institutional Trading of iQIYI

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after purchasing an additional 5,077 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in iQIYI by 2.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after purchasing an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after buying an additional 22,662 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of iQIYI in the fourth quarter valued at about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of iQIYI by 393.4% in 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 buying an additional 1,716,011 shares during 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.