iQIYI (NASDAQ:IQ) Trading Up 4.1% – Still a Buy?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) was up 4.1% during trading on Tuesday . The stock traded as high as $2.17 and last traded at $2.1350. Approximately 1,934,374 shares changed hands during trading, a decline of 92% from the average daily volume of 24,569,066 shares. The stock had previously closed at $2.05.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IQ. Cfra Research cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Thursday, August 28th. Morgan Stanley set a $2.10 price target on shares of iQIYI in a research note on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of iQIYI in a report on Tuesday, October 14th. Jefferies Financial Group raised their price objective on shares of iQIYI from $2.10 to $2.50 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.45.

iQIYI Stock Down 2.2%

The firm has a market cap of $2.11 billion, a P/E ratio of -36.50 and a beta of -0.09. The company has a current ratio of 0.44, a quick ratio of 0.42 and a debt-to-equity ratio of 0.75. The business has a 50-day moving average price of $2.34 and a 200-day moving average price of $2.10.

Institutional Trading of iQIYI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new stake in iQIYI during the first quarter valued at about $30,000. DRW Securities LLC bought a new position in shares of iQIYI during the 1st quarter worth approximately $33,000. HighTower Advisors LLC grew its holdings in iQIYI by 102.3% in the first quarter. HighTower Advisors LLC now owns 15,639 shares of the company’s stock worth $35,000 after purchasing an additional 698,342 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of iQIYI by 15,081.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 44,481 shares of the company’s stock valued at $101,000 after purchasing an additional 44,188 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

About iQIYI

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.