iQIYI, Inc. Sponsored ADR (NASDAQ:IQ – Get Free Report) shares were up 10.9% on Tuesday . The stock traded as high as $0.9668 and last traded at $0.9760. Approximately 4,007,776 shares were traded during trading, a decline of 54% from the average session volume of 8,714,805 shares. The stock had previously closed at $0.88.
Wall Street Analyst Weigh In
IQ has been the topic of several research analyst reports. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. The Goldman Sachs Group restated a “neutral” rating and set a $1.40 price objective on shares of iQIYI in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. JPMorgan Chase & Co. decreased their target price on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Finally, Wall Street Zen raised iQIYI from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1.73.
View Our Latest Analysis on iQIYI
iQIYI Price Performance
Institutional Trading of iQIYI
A number of large investors have recently made changes to their positions in the business. Triata Capital Ltd purchased a new position in iQIYI in the second quarter worth about $1,152,419. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI during the fourth quarter valued at approximately $1,205,000. Bank of New York Mellon Corp raised its position in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after purchasing an additional 22,662 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock valued at $495,000 after purchasing an additional 8,900 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of iQIYI in the 2nd quarter valued at approximately $58,000. 52.69% of the stock is currently owned by institutional investors.
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.
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