iQIYI (NASDAQ:IQ) Stock Falls 4.5% - Here's Why

Key Points

• iQIYI shares fell 4.5% Monday, reaching $0.9144 and last trading at $0.9170; volume was 82% below the average daily volume.
• Analyst sentiment is mixed but leans neutral: the consensus rating is Hold, with an average price target of $1.73. JPMorgan cut its target from $2.20 to $1.20.
• Institutional investors own 52.69% of the company, and several firms recently increased their holdings or opened new positions.

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) dropped 4.5% during trading on Monday. The company traded as low as $0.9144 and last traded at $0.9170. Approximately 1,533,343 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 8,367,850 shares. The stock had previously closed at $0.9599.

Wall Street Analysts Forecast Growth

Several research firms have commented on IQ. Benchmark reissued a "hold" rating on shares of iQIYI in a report on Wednesday, August 19th. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $2.20 to $1.20 and set a "neutral" rating for the company in a research report on Thursday, August 20th. Zacks Research upgraded iQIYI from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Wall Street Zen raised shares of iQIYI from a "strong sell" rating to a "sell" rating in a report on Saturday, August 22nd. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of iQIYI in a research note on Monday, September 21st. One equities research 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. Based on data from MarketBeat, iQIYI has a consensus rating of "Hold" and an average target price of $1.73.

iQIYI Stock Down 5.2%

The firm has a market capitalization of $878.07 million, a price-to-earnings ratio of -7.58 and a beta of 0.14. The stock has a fifty day moving average of $0.96 and a two-hundred day moving average of $1.24. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45.

Institutional Investors Weigh In On iQIYI

Institutional investors and hedge funds have recently made changes to their positions in the business. Jefferies Financial Group Inc. increased its holdings in iQIYI by 600.0% in the third quarter. Jefferies Financial Group Inc. now owns 1,268,765 shares of the company's stock worth $1,269,000 after purchasing an additional 1,087,513 shares in the last quarter. Triata Capital Ltd bought a new stake in shares of iQIYI in the 2nd quarter valued at $1,152,419. 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 valued at $721,000 after acquiring an additional 22,662 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of iQIYI by 831.3% during the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company's stock valued at $619,000 after acquiring an additional 530,983 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of iQIYI during the 2nd quarter valued at $580,000. Institutional investors own 52.69% of the company's stock.

iQIYI Company Profile

iQIYI, Inc is a Chinese online entertainment company that operates the iQIYI streaming platform. The company provides internet video services, including professionally produced television dramas, films, variety shows, documentaries, anime and other entertainment programming. Its content is available through websites and mobile applications, with offerings supported by subscription memberships, advertising and other content-related services.

iQIYI develops and licenses content, including original productions created through its in-house studios and programming obtained from external producers and rights holders.

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