iQIYI (NASDAQ:IQ) Stock Price Up 5.5% - Should You Buy?

Key Points

• iQIYI shares rose 5.5% to about $1.055 during Wednesday trading, though volume was 43% below the average session level.
• Analyst sentiment remains cautious: MarketBeat reports an average rating of “Hold” and an average price target of $1.73, with recent targets ranging from $1.20 to $1.40 among major firms.
• Institutional investors own approximately 52.69% of the stock, while iQIYI’s financial profile includes a $1.03 billion market capitalization, negative P/E ratio, and current and quick ratios of 0.45.

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) rose 5.5% on Wednesday . The company traded as high as $1.06 and last traded at $1.0550. Approximately 4,961,543 shares were traded during mid-day trading, a decline of 43% from the average session volume of 8,681,989 shares. The stock had previously closed at $1.00.

Analysts Set New Price Targets

Several research firms have recently issued reports on IQ. The Goldman Sachs Group reiterated a "neutral" rating and issued a $1.40 target price on shares of iQIYI in a research note on Thursday, August 20th. Benchmark reissued a "hold" rating on shares of iQIYI in a research report on Wednesday, August 19th. Wall Street Zen upgraded iQIYI from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of iQIYI in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. decreased their target price on iQIYI from $2.20 to $1.20 and set a "neutral" rating for the company in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, iQIYI currently has an average rating of "Hold" and an average price target of $1.73.

iQIYI Trading Up 6.5%

The firm has a fifty day moving average of $1.13 and a two-hundred day moving average of $1.18. The company has a market cap of $1.03 billion, a PE ratio of -8.88 and a beta of 0.19. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On iQIYI

Several large investors have recently modified their holdings of IQ. Catalyst Funds Management Pty Ltd purchased a new stake in shares of iQIYI during the 4th quarter valued at approximately $1,205,000. Triata Capital Ltd bought a new position in iQIYI in the 2nd quarter worth approximately $1,152,419. Bank of New York Mellon Corp grew its stake in 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 buying an additional 22,662 shares in the last quarter. Squarepoint Ops LLC grew its stake in iQIYI by 831.3% in the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company's stock valued at $619,000 after buying an additional 530,983 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in iQIYI during the 2nd quarter valued at $580,000. Hedge funds and other institutional investors own 52.69% of the company's stock.

About iQIYI

iQIYI, Inc is a China-based online entertainment company that operates a streaming video platform through its website and mobile applications. The company offers professionally produced and user-generated video content, including television dramas, films, variety programs, anime, sports and other entertainment programming.

iQIYI develops and distributes original programming while also licensing content from third-party producers and studios. Its services include advertising-supported viewing, subscription-based membership offerings and premium content features.

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