iQIYI (NASDAQ:IQ) Trading 7.7% Higher – What’s Next?

iQIYI, Inc. (NASDAQ:IQ)’s share price was up 7.7% during mid-day trading on Friday . The company traded as high as $2.14 and last traded at $2.16. Approximately 6,683,859 shares were traded during trading, a decline of 57% from the average daily volume of 15,722,672 shares. The stock had previously closed at $2.00.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IQ. Citigroup lowered their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a report on Thursday, January 16th. OTR Global restated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.91.

iQIYI Trading Up 14.8 %

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.20 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 3.15 and a beta of 0.02. The firm’s 50-day simple moving average is $2.08 and its 200-day simple moving average is $2.52.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. iQIYI had a return on equity of 13.26% and a net margin of 4.69%. During the same quarter last year, the firm posted $0.07 EPS. Analysts anticipate that iQIYI, Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IQ. Garden State Investment Advisory Services LLC bought a new stake in iQIYI during the third quarter valued at about $835,000. BNP Paribas Financial Markets grew its holdings in iQIYI by 77.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after buying an additional 815,226 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of iQIYI by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock worth $21,443,000 after buying an additional 694,349 shares in the last quarter. Genesis Investment Management LLP boosted its position in shares of iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after acquiring an additional 8,765,711 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in iQIYI by 8,351.7% during the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after acquiring an additional 993,355 shares in the last quarter. 52.69% of the stock is owned by hedge funds and other institutional investors.

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.