iQIYI (NASDAQ:IQ) Shares Down 6.6% - Time to Sell?

Key Points

• iQIYI's stock has experienced a notable 6.6% decline, trading at $2.61, significantly below its previous close of $2.79.
• Analyst ratings show mixed sentiment, with three analysts recommending a Buy, four a Hold, and one a Sell, leading to a consensus rating of "Hold" with an average price target of $2.51.
• Institutional investors are actively involved, with notable increases in holdings by Krane Funds Advisors and Federated Hermes, indicating potential confidence in the stock's future performance.

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) traded down 6.6% during trading on Wednesday . The stock traded as low as $2.66 and last traded at $2.61. 5,330,368 shares were traded during trading, a decline of 81% from the average session volume of 28,204,479 shares. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of iQIYI from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. CLSA raised iQIYI from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 19th. Jefferies Financial Group boosted their target price on iQIYI from $2.10 to $2.50 and gave the company a "buy" rating in a research report on Wednesday, August 20th. UBS Group raised iQIYI from a "neutral" rating to a "buy" rating and set a $3.32 target price on the stock in a research report on Thursday, August 21st. Finally, Cfra Research lowered iQIYI from a "hold" rating to a "moderate sell" rating in a research report on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $2.51.

iQIYI Stock Down 1.5%

The business has a 50-day moving average price of $2.15 and a two-hundred day moving average price of $1.99. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.47 billion, a PE ratio of 257.26 and a beta of -0.14.

Institutional Trading of iQIYI

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of iQIYI by 3.6% during the first quarter. Vanguard Group Inc. now owns 18,956,694 shares of the company's stock worth $42,842,000 after purchasing an additional 663,609 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in iQIYI by 247.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,884,384 shares of the company's stock valued at $4,259,000 after acquiring an additional 1,341,745 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of iQIYI during the first quarter worth about $374,000. Causeway Capital Management LLC boosted its stake in shares of iQIYI by 29.0% during the first quarter. Causeway Capital Management LLC now owns 2,896,200 shares of the company's stock worth $6,545,000 after buying an additional 651,500 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of iQIYI by 94.5% during the fourth 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. Hedge funds and other institutional investors 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.