iQIYI (NASDAQ:IQ) Trading 9.8% Higher – What’s Next?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) traded up 9.8% during trading on Tuesday . The stock traded as high as $1.40 and last traded at $1.3950. 3,993,435 shares changed hands during trading, a decline of 61% from the average session volume of 10,186,026 shares. The stock had previously closed at $1.27.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $2.22 target price on shares of iQIYI in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.55.

iQIYI Stock Performance

The firm’s fifty day moving average price is $1.50 and its 200-day moving average price is $1.90. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -46.50 and a beta of 0.26.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Marshall Wace LLP raised its position in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in iQIYI in the 4th quarter valued at $8,488,000. Parallel Advisors LLC raised its position in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after purchasing an additional 5,077 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI in the 4th quarter valued at $1,205,000. Finally, Public Employees Retirement System of Ohio raised its position in iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after purchasing an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

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.