iQIYI (NASDAQ:IQ) Trading Up 5.3% - Here's What Happened

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report)'s share price rose 5.3% on Tuesday . The stock traded as high as $1.92 and last traded at $1.89. Approximately 6,201,459 shares traded 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 Analyst Weigh In

Separately, Wall Street Zen downgraded shares of iQIYI from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, iQIYI currently has a consensus rating of "Hold" and a consensus target price of $2.91.

iQIYI Stock Up 3.7%

The company has a market cap of $1.89 billion, a P/E ratio of 49.01 and a beta of -0.17. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $1.77 and its 200 day moving average is $1.97.

iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.03 EPS 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%. As a group, equities analysts anticipate that iQIYI, Inc. Sponsored ADR will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC purchased a new position in iQIYI in the 1st quarter valued at approximately $30,000. DRW Securities LLC purchased a new stake in shares of iQIYI in the first quarter valued at about $33,000. HighTower Advisors LLC raised its holdings in shares of iQIYI by 102.3% in the first quarter. HighTower Advisors LLC now owns 15,639 shares of the company's stock valued at $35,000 after buying an additional 698,342 shares during the last quarter. Vident Advisory LLC purchased a new stake in iQIYI in the 4th quarter valued at approximately $33,000. Finally, PDS Planning Inc purchased a new stake in iQIYI in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 52.69% of the company's stock.

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.