iQIYI (NASDAQ:IQ) Sets New 52-Week Low - Here's What Happened

Key Points

• iQIYI hit a new 52-week low, falling to $0.8134 intraday and last trading at $0.8350, below its previous close of $0.8930.
• Analyst sentiment is mixed but averages to a Hold, with a consensus price target of $1.73. JPMorgan cut its target from $2.20 to $1.20 and maintained a Neutral rating.
• The company reported a market capitalization of about $803 million, while its current and quick ratios were both 0.45 and its debt-to-equity ratio was 0.81.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $0.8134 and last traded at $0.8350, with a volume of 4,301,791 shares traded. The stock had previously closed at $0.8930.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Zacks Research raised iQIYI from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings reissued a "sell (d)" rating on shares of iQIYI in a research note on Monday, September 21st. Benchmark reissued a "hold" rating on shares of iQIYI in a research note on Wednesday, August 19th. Wall Street Zen upgraded iQIYI from a "strong sell" rating to a "sell" rating in a report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of iQIYI from $2.20 to $1.20 and set a "neutral" rating for the company in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $1.73.

iQIYI Stock Down 6.8%

The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a market cap of $802.81 million, a price-to-earnings ratio of -6.94 and a beta of 0.14. The business's 50 day moving average is $0.96 and its 200 day moving average is $1.21.

Institutional Trading of iQIYI

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings in shares of iQIYI by 2.5% during the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company's stock valued at $495,000 after buying an additional 8,900 shares in the last quarter. Bank of New York Mellon Corp raised its position in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company's stock valued at $721,000 after buying an additional 22,662 shares during the period. Tidal Investments LLC acquired a new position in iQIYI during the second quarter valued at $58,000. Aberdeen Group plc purchased a new stake in iQIYI in the 3rd quarter worth about $278,000. Finally, Squarepoint Ops LLC lifted its stake in iQIYI by 831.3% in the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company's stock worth $619,000 after acquiring an additional 530,983 shares in the last quarter. Hedge funds and other institutional investors own 52.69% of the company's stock.

iQIYI Company Profile

iQIYI, Inc. is a Chinese online entertainment company that operates a video-streaming platform. Its service offers films, television dramas, variety shows, animation and other video content, including programs produced or commissioned by the company. The company generates business through services such as paid memberships, advertising and content distribution. Its platform is available through its website and mobile and connected-device applications, and iQIYI also offers an international service to viewers in selected markets outside China.

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