iQIYI (NASDAQ:IQ) Trading 9.8% Higher - Here's What Happened

Key Points

• iQIYI shares jumped 9.8% to $1.395 on Tuesday (intraday high $1.40) on volume of about 3.99 million shares, roughly 61% below its average session volume.
• Analyst sentiment is mixed with a consensus rating of "Hold" and a $2.55 consensus price target, based on two Buys, one Hold and one Sell.
• Institutional activity has ramped up—UBS and Marshall Wace meaningfully increased positions—leaving institutions with 52.69% ownership, while the company remains unprofitable (P/E -47.5) and has a market cap of $1.37 billion.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) traded up 9.8% during trading on Tuesday . The stock traded as high as $1.40 and last traded at $1.3950. 3,993,435 shares were traded during trading, a decline of 61% from the average session volume of 10,186,026 shares. The stock had previously closed at $1.27.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Zacks Research raised shares of iQIYI from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 12th. Jefferies Financial Group reaffirmed a "buy" rating and set a $2.22 price target on shares of iQIYI in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of iQIYI in a research report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, iQIYI currently has a consensus rating of "Hold" and a consensus price target of $2.55.

iQIYI Trading Up 12.2%

The stock has a 50 day moving average of $1.52 and a 200-day moving average of $1.91. The company has a market capitalization of $1.37 billion, a P/E ratio of -47.50 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 Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of iQIYI by 20.8% during 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 during the period. Public Employees Retirement System of Ohio grew 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 valued at $1,107,000 after acquiring an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in shares of iQIYI during the 4th quarter valued at approximately $1,205,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 valued at $4,864,000 after acquiring an additional 1,716,011 shares during the period. Finally, Marshall Wace LLP grew 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 valued at $5,397,000 after acquiring an additional 2,626,502 shares during the period. 52.69% of the stock is currently owned by 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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