iQIYI (NASDAQ:IQ) Stock Price Up 5.3% - What's Next?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) shares rose 5.3% during mid-day trading on Tuesday . The company traded as high as $1.92 and last traded at $1.89. Approximately 6,201,459 shares changed hands during trading, a decline of 74% from the average daily volume of 23,512,668 shares. The stock had previously closed at $1.79.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut iQIYI from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $2.91.

iQIYI Price Performance

The firm has a market capitalization of $1.79 billion, a P/E ratio of 46.51 and a beta of -0.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.46 and a current ratio of 0.46. The business has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.97.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its earnings results on Wednesday, May 21st. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). The business had revenue of $988.19 million during the quarter, compared to the consensus estimate of $7.10 billion. iQIYI had a return on equity of 3.62% and a net margin of 1.02%. On average, sell-side analysts expect that iQIYI, Inc. Sponsored ADR will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Institutional investors have recently modified their holdings of the company. Lighthouse Investment Partners LLC bought a new position in iQIYI during the 4th quarter worth approximately $1,410,000. Harvest Fund Management Co. Ltd lifted its holdings in iQIYI by 13.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company's stock worth $6,489,000 after buying an additional 393,834 shares during the period. Northern Trust Corp lifted its holdings in iQIYI by 94.5% in the 4th quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock worth $2,473,000 after buying an additional 597,819 shares during the period. Vanguard Group Inc. lifted its holdings in iQIYI by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 18,293,085 shares of the company's stock worth $36,769,000 after buying an additional 502,154 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in iQIYI in the 4th quarter worth approximately $721,000. 52.69% of the stock is currently owned by 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.