iQIYI (NASDAQ:IQ) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of iQIYI (NASDAQ:IQ) from a hold rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

IQ has been the subject of several other reports. Morgan Stanley set a $2.10 price objective on shares of iQIYI in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, iQIYI presently has a consensus rating of “Hold” and an average price target of $2.64.

iQIYI Stock Performance

IQ stock opened at $2.05 on Thursday. iQIYI has a one year low of $1.50 and a one year high of $2.84. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -34.08 and a beta of 0.03. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $2.17.

Institutional Investors Weigh In On iQIYI

A number of hedge funds have recently modified their holdings of IQ. SBI Securities Co. Ltd. increased its position in iQIYI by 199.7% during the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after purchasing an additional 29,999 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of iQIYI by 48.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 425,400 shares of the company’s stock valued at $753,000 after buying an additional 138,300 shares during the period. SG Americas Securities LLC increased its holdings in shares of iQIYI by 33.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock worth $2,781,000 after buying an additional 390,088 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of iQIYI by 393.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after buying an additional 1,716,011 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.