iQIYI (NASDAQ:IQ) Hits New 12-Month Low – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price hit a new 52-week low on Monday . The company traded as low as $1.34 and last traded at $1.3550, with a volume of 5480127 shares. The stock had previously closed at $1.44.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley set a $2.10 price target on shares of iQIYI in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research note on Monday, December 29th. Zacks Research downgraded shares of iQIYI from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $2.22 price target on shares of iQIYI in a research note on Thursday, February 26th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, iQIYI currently has a consensus rating of “Hold” and an average price target of $2.55.

iQIYI Trading Down 6.2%

The firm has a fifty day moving average of $1.90 and a two-hundred day moving average of $2.15. The company has a market cap of $1.30 billion, a PE ratio of -45.00 and a beta of 0.10. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.76.

Hedge Funds Weigh In On iQIYI

Several large investors have recently modified their holdings of IQ. Parallel Advisors LLC raised its position in shares of iQIYI by 20.8% in the fourth 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 period. SBI Securities Co. Ltd. boosted its holdings in iQIYI by 199.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after buying an additional 29,999 shares during the period. Public Employees Retirement System of Ohio grew its stake 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 buying an additional 6,900 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in iQIYI during the 4th quarter valued at $1,205,000. Finally, SG Americas Securities LLC raised its holdings in iQIYI by 33.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after acquiring an additional 390,088 shares during the period. Hedge funds and other institutional investors 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.