iQIYI (NASDAQ:IQ) Shares Gap Up - Still a Buy?

Key Points

• Shares gapped up before the open from $1.20 to $1.30 and last traded at $1.3250 on volume of about 9.68 million shares.
• Analyst views are mixed — Jefferies reaffirmed a Buy with a $2.22 target while Weiss rates it a Sell and Zacks moved to Hold, leaving a MarketBeat consensus of Hold with an average target of $2.55.
• Significant institutional activity: UBS and Marshall Wace materially increased their positions and institutions/hedge funds now own 52.69% of the stock, signaling notable investor interest.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $1.20, but opened at $1.30. iQIYI shares last traded at $1.3250, with a volume of 9,675,483 shares trading hands.

Analyst Ratings Changes

IQ has been the subject of a number of research reports. Jefferies Financial Group reiterated a "buy" rating and set a $2.22 target price on shares of iQIYI in a research report on Thursday, February 26th. Weiss Ratings restated a "sell (d)" rating on shares of iQIYI in a research report on Friday. Finally, Zacks Research upgraded shares of iQIYI from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.55.

iQIYI Stock Performance

The firm has a market capitalization of $1.26 billion, a PE ratio of -43.50 and a beta of 0.10. The business has a 50-day simple moving average of $1.68 and a 200-day simple moving average of $2.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in iQIYI by 20.8% during the fourth 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. Public Employees Retirement System of Ohio boosted its stake in shares of iQIYI by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company's stock worth $1,107,000 after purchasing an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in iQIYI during the 4th quarter valued at about $1,205,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in iQIYI by 393.4% in the 1st 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 purchasing an additional 1,716,011 shares during the period. Finally, Marshall Wace LLP raised its position in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company's stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the period. 52.69% of the stock is owned by hedge funds and other institutional investors.

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.

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