iQIYI (NASDAQ:IQ) Sets New 12-Month Low - Should You Sell?

Key Points

• iQIYI shares fell to a new 52-week low of $0.9419 and last traded near $0.9470, down 3.8% from the prior close.
• Analyst sentiment is mostly cautious: the stock carries a consensus “Hold” rating and a $1.73 average price target, while JPMorgan cut its target to $1.20 and Goldman Sachs set a $1.40 target.
• iQIYI has a market capitalization of about $912 million, negative earnings, and weak liquidity ratios; hedge funds and other institutions own approximately 52.69% of the shares.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $0.9419 and last traded at $0.9470, with a volume of 7996580 shares trading hands. The stock had previously closed at $0.9828.

Analysts Set New Price Targets

A number of brokerages have weighed in on IQ. Weiss Ratings reiterated a "sell (d)" rating on shares of iQIYI in a research report on Wednesday, June 24th. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a report on Wednesday, August 19th. The Goldman Sachs Group reissued a "neutral" rating and issued a $1.40 price objective on shares of iQIYI in a report on Thursday, August 20th. JPMorgan Chase & Co. reduced their target price on iQIYI from $2.20 to $1.20 and set a "neutral" rating for the company in a research note on Thursday, August 20th. Finally, Wall Street Zen raised shares of iQIYI from a "strong sell" rating to a "sell" rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $1.73.

iQIYI Stock Down 3.8%

The stock has a market capitalization of $911.84 million, a price-to-earnings ratio of -7.89 and a beta of 0.19. The business's 50-day moving average is $1.16 and its two-hundred day moving average is $1.27. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.81.

Institutional Investors Weigh In On iQIYI

A number of large investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its position in iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company's stock worth $57,000 after buying an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company's stock worth $495,000 after acquiring an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company's stock worth $721,000 after acquiring an additional 22,662 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in shares of iQIYI during the 4th quarter worth $1,205,000. Finally, Triata Capital Ltd acquired a new position in shares of iQIYI during the 2nd quarter valued at about $1,152,419,000. 52.69% of the stock is currently owned by hedge funds and other 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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