iQIYI (NASDAQ:IQ) Trading 7.7% Higher - Should You Buy?

Key Points

• Shares jumped 7.7% intraday to $1.195 on Wednesday, with about 7.22 million shares traded—roughly 32% below its average daily volume.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of Hold with a $2.55 target, while individual notes range from Jefferies' "Buy" to several "Sell" opinions.
• Underlying fundamentals are weak—market cap ~$1.13B, negative P/E (-39.17), and low liquidity (current ratio 0.47)—and institutional investors own about 52.7% of the stock.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report)'s share price was up 7.7% during mid-day trading on Wednesday . The stock traded as high as $1.1950 and last traded at $1.1950. Approximately 7,224,116 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 10,618,275 shares. The stock had previously closed at $1.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research upgraded iQIYI from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 12th. Wall Street Zen downgraded iQIYI from a "hold" rating to a "sell" rating in a research note on Sunday. Jefferies Financial Group reaffirmed a "buy" rating and set a $2.22 target price on shares of iQIYI in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of iQIYI in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $2.55.

iQIYI Stock Up 5.9%

The stock has a fifty day moving average of $1.39 and a 200-day moving average of $1.82. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -39.17 and a beta of 0.26. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76.

Institutional Trading of iQIYI

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP boosted its holdings in shares of iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company's stock worth $5,397,000 after buying an additional 2,626,502 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of iQIYI during the fourth quarter valued at approximately $8,488,000. Parallel Advisors LLC lifted its position in shares of iQIYI by 20.8% in the 4th 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 in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI in the 4th quarter worth approximately $1,205,000. Finally, Public Employees Retirement System of Ohio boosted its stake in iQIYI by 1.6% in 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. Institutional investors and hedge funds own 52.69% of the company's stock.

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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