iQIYI (NASDAQ:IQ) Stock Price Down 5.4% - Here's What Happened

Key Points

• iQIYI shares fell about 5.4%, trading down to $1.3250 (intraday low $1.34) with mid-day volume ~1.59M shares, an 84% decline versus the average session volume of 10.12M.
• Analysts are mixed but the consensus is a Hold with a $2.55 target, based on two Buys, one Hold and one Sell (notes ranged from Jefferies' Buy to Weiss Ratings' Sell).
• Key fundamentals show liquidity weakness (current and quick ratios of 0.47), a negative PE (-44.17) and a market cap around $1.27 billion, with the stock trading below its 50‑ and 200‑day moving averages.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report)'s stock price traded down 5.4% on Tuesday . The company traded as low as $1.34 and last traded at $1.3250. 1,586,611 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 10,122,890 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of iQIYI in a research note on Friday, March 27th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $2.22 price target on shares of iQIYI in a research note on Thursday, February 26th. Wall Street Zen raised shares of iQIYI from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Zacks Research raised iQIYI from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.55.

iQIYI Trading Down 6.1%

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.27 billion, a PE ratio of -44.17 and a beta of 0.26. The business's 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.87.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently made changes to their positions in IQ. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of iQIYI during the 4th quarter worth about $8,488,000. Marshall Wace LLP raised its stake in shares of iQIYI by 1,423.3% during 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of iQIYI by 393.4% during 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 in the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in shares of iQIYI during the 4th quarter worth about $1,205,000. Finally, Public Employees Retirement System of Ohio raised 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 in the last quarter. 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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