iQIYI (NASDAQ:IQ) Trading Down 3.6%

iQIYI, Inc. (NASDAQ:IQ)’s stock price dropped 3.6% on Friday . The stock traded as low as $3.65 and last traded at $3.75. Approximately 1,318,316 shares traded hands during trading, a decline of 85% from the average daily volume of 8,952,518 shares. The stock had previously closed at $3.89.

Wall Street Analyst Weigh In

IQ has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $9.00 target price on shares of iQIYI in a research note on Friday, May 17th. OTR Global reaffirmed a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.18.

iQIYI Trading Down 3.1 %

The firm has a market cap of $3.62 billion, a P/E ratio of 13.89, a PEG ratio of 0.28 and a beta of 0.07. The company has a 50 day moving average of $4.51 and a 200 day moving average of $4.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, May 16th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. Analysts predict that iQIYI, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in iQIYI in the 4th quarter worth approximately $49,853,000. SG Americas Securities LLC lifted its holdings in shares of iQIYI by 80.6% during the fourth quarter. SG Americas Securities LLC now owns 587,980 shares of the company’s stock worth $2,869,000 after buying an additional 262,461 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of iQIYI by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after buying an additional 269,491 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in shares of iQIYI by 2.5% during the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after buying an additional 467,032 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of iQIYI by 43.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,291,428 shares of the company’s stock worth $11,205,000 after buying an additional 691,364 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.