Wall Street Zen Upgrades iQIYI (NASDAQ:IQ) to "Hold"

iQIYI (NASDAQ:IQ - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

iQIYI Trading Up 3.7%

NASDAQ:IQ traded up $0.07 during midday trading on Friday, hitting $1.96. 50,487,486 shares of the company traded hands, compared to its average volume of 23,935,055. The firm's fifty day moving average is $1.77 and its 200-day moving average is $1.97. The firm has a market capitalization of $1.89 billion, a P/E ratio of 49.01 and a beta of -0.17. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.61. iQIYI has a 12-month low of $1.50 and a 12-month high of $3.63.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $988.19 million during the quarter, compared to the consensus estimate of $7.10 billion. iQIYI had a net margin of 1.02% and a return on equity of 3.62%. On average, sell-side analysts predict that iQIYI will post 0.04 EPS for the current year.

Institutional Investors Weigh In On iQIYI

A number of institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its position in iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company's stock valued at $57,000 after purchasing an additional 7,645 shares in the last quarter. IvyRock Asset Management HK Ltd grew its stake in shares of iQIYI by 20.0% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company's stock worth $121,000 after acquiring an additional 10,000 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of iQIYI during the first quarter valued at about $30,000. DRW Securities LLC acquired a new position in shares of iQIYI during the first quarter valued at about $33,000. Finally, Vident Advisory LLC purchased a new position in shares of iQIYI in the 4th quarter valued at approximately $33,000. Institutional investors own 52.69% of the company's stock.

iQIYI Company Profile

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.

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