iQIYI Target of Unusually High Options Trading (NASDAQ:IQ)

iQIYI, Inc. Sponsored ADR (NASDAQ:IQGet Free Report) saw unusually large options trading activity on Tuesday. Stock investors acquired 89,145 put options on the stock. This represents an increase of approximately 2,452% compared to the typical daily volume of 3,493 put options.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Jefferies Financial Group restated a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a report on Thursday, February 26th. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 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 company. According to data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and an average price target of $2.55.

Check Out Our Latest Research Report on IQ

Institutional Investors Weigh In On iQIYI

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after purchasing an additional 5,077 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of iQIYI by 1.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 6,900 shares during the period. Bank of New York Mellon Corp grew its position in iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after acquiring an additional 22,662 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI in the fourth quarter valued at approximately $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in iQIYI by 393.4% in the first 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 acquiring an additional 1,716,011 shares in the last quarter. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Stock Down 0.4%

Shares of IQ traded down $0.01 during midday trading on Tuesday, hitting $1.17. The company had a trading volume of 5,492,404 shares, compared to its average volume of 10,232,871. The company’s 50-day simple moving average is $1.30 and its 200-day simple moving average is $1.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.47 and a current ratio of 0.47. The firm has a market capitalization of $1.12 billion, a P/E ratio of -38.83 and a beta of 0.19. iQIYI has a 1 year low of $1.07 and a 1 year high of $2.84.

iQIYI Company Profile

(Get Free Report)

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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