iQIYI (NASDAQ:IQ) Reaches New 1-Year Low – Here’s What Happened

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) reached a new 52-week low on Thursday . The stock traded as low as $0.9419 and last traded at $0.9470, with a volume of 7996580 shares trading hands. The stock had previously closed at $0.9828.

Analyst Ratings Changes

Several research firms have weighed in on IQ. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. The Goldman Sachs Group reissued a “neutral” rating and issued a $1.40 price objective on shares of iQIYI in a research note on Thursday, August 20th. Wall Street Zen upgraded shares of iQIYI from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1.73.

iQIYI Price Performance

The stock has a market capitalization of $887.72 million, a PE ratio of -7.67 and a beta of 0.19. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81. The company’s 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.26.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently made changes to their positions in IQ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 buying an additional 1,716,011 shares during the period. Public Employees Retirement System of Ohio grew its holdings in iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after buying an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI in the 4th quarter valued at about $1,205,000. Parallel Advisors LLC increased its stake in shares of iQIYI by 20.8% during the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after acquiring an additional 5,077 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of iQIYI during the 4th quarter worth about $8,488,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.