iQIYI (NASDAQ:IQ) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of iQIYI (NASDAQ:IQ) from a strong sell rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

IQ has been the topic of several other research reports. Jefferies Financial Group reissued a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Monday, December 29th. Finally, Morgan Stanley set a $2.10 target price on iQIYI in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, iQIYI has an average rating of “Hold” and an average target price of $2.55.

iQIYI Stock Performance

IQ stock opened at $1.31 on Thursday. The firm has a market cap of $1.26 billion, a PE ratio of -43.67 and a beta of 0.10. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average of $1.84 and a 200-day moving average of $2.12. iQIYI has a 12-month low of $1.26 and a 12-month high of $2.84.

Institutional Investors Weigh In On iQIYI

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its stake in 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 last quarter. SBI Securities Co. Ltd. increased its position in iQIYI by 199.7% in the second 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 last quarter. Public Employees Retirement System of Ohio raised its stake in shares of iQIYI by 1.6% in the third 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 during the period. Catalyst Funds Management Pty Ltd purchased a new position in shares of iQIYI during the 4th quarter valued at $1,205,000. Finally, SG Americas Securities LLC lifted its position in shares of 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 buying an additional 390,088 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

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.