iQIYI (NASDAQ:IQ) Shares Up 7% – Should You Buy?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) traded up 7% during trading on Wednesday . The company traded as high as $1.06 and last traded at $1.0650. 3,076,563 shares traded hands during trading, a decline of 66% from the average daily volume of 9,106,347 shares. The stock had previously closed at $0.9954.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Tuesday, May 19th. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research note on Wednesday, June 24th. Zacks Research cut iQIYI from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Trading Down 0.4%

The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $1.10 billion, a PE ratio of -11.35 and a beta of 0.19. The company has a 50 day simple moving average of $1.09 and a two-hundred day simple moving average of $1.46.

Institutional Trading of iQIYI

Several hedge funds and other institutional investors have recently modified their holdings of the company. Catalyst Funds Management Pty Ltd purchased a new position in iQIYI in the fourth quarter valued at about $1,205,000. Public Employees Retirement System of Ohio increased its holdings in iQIYI by 2.5% in the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after buying an additional 8,900 shares during the last quarter. Parallel Advisors LLC increased its holdings in iQIYI by 20.8% in the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after buying an additional 5,077 shares during the last quarter. Marshall Wace LLP raised its position in iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after acquiring an additional 2,626,502 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in iQIYI during the fourth quarter valued at approximately $8,488,000. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

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.