iQIYI (NASDAQ:IQ) Reaches New 52-Week Low – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) hit a new 52-week low on Tuesday . The company traded as low as $1.26 and last traded at $1.2750, with a volume of 2751511 shares trading hands. The stock had previously closed at $1.29.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley set a $2.10 target price on iQIYI in a research report on Wednesday, November 19th. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating and set a $2.22 price target on shares of iQIYI in a research report on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.55.

iQIYI Stock Performance

The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average is $1.79 and its two-hundred day moving average is $2.09. The stock has a market capitalization of $1.19 billion, a P/E ratio of -41.33 and a beta of 0.10.

Hedge Funds Weigh In On iQIYI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its holdings in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after buying an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in iQIYI by 1.6% during 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 acquiring an additional 6,900 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in iQIYI during the 4th quarter worth $1,205,000. SG Americas Securities LLC boosted its position in iQIYI by 33.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock worth $2,781,000 after acquiring an additional 390,088 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 worth $4,864,000 after purchasing an additional 1,716,011 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.