iQIYI (NASDAQ:IQ) Hits New 52-Week Low at $1.93

iQIYI, Inc. (NASDAQ:IQ) reached a new 52-week low on Monday . The stock traded as low as $1.93 and last traded at $1.93, with a volume of 1714528 shares changing hands. The stock had previously closed at $1.97.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective on iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Benchmark cut iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Hsbc Global Res cut iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, iQIYI presently has a consensus rating of “Hold” and an average price target of $3.45.

iQIYI Stock Performance

The firm has a fifty day moving average of $2.95 and a 200 day moving average of $3.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 0.46 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period last year, the firm earned $0.05 earnings per share. As a group, sell-side analysts forecast that iQIYI, Inc. will post 0.16 EPS for the current year.

Institutional Trading of iQIYI

Hedge funds and other institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the second quarter worth approximately $31,000. Seven Eight Capital LP bought a new stake in iQIYI in the second quarter worth $42,000. Vanguard Personalized Indexing Management LLC bought a new stake in iQIYI in the second quarter worth $46,000. Ballentine Partners LLC lifted its position in iQIYI by 65.0% during the 1st quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after acquiring an additional 7,219 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in iQIYI by 59.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after acquiring an additional 8,225 shares during the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

About iQIYI

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.