IQIYI (IQ) Stock Price Down 6.6%

IQIYI Inc (NASDAQ:IQ) was down 6.6% on Friday . The company traded as low as $18.85 and last traded at $19.04. Approximately 23,030,404 shares changed hands during trading, an increase of 127% from the average daily volume of 10,125,013 shares. The stock had previously closed at $20.38.

A number of equities research analysts have recently weighed in on IQ shares. ValuEngine raised shares of IQIYI from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. New Street Research raised shares of IQIYI from a “neutral” rating to a “buy” rating in a research note on Friday, February 22nd. Zacks Investment Research lowered shares of IQIYI from a “hold” rating to a “sell” rating in a research note on Friday, March 29th. Tigress Financial started coverage on shares of IQIYI in a research note on Friday, March 15th. They set a “buy” rating on the stock. Finally, HSBC cut their target price on shares of IQIYI from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $29.33.

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $13.78 billion, a P/E ratio of -7.71 and a beta of 3.24.

IQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Thursday, May 16th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.17. IQIYI had a negative net margin of 38.72% and a negative return on equity of 49.17%. The business had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. IQIYI’s quarterly revenue was up 43.0% on a year-over-year basis. Equities analysts anticipate that IQIYI Inc will post -1.35 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of IQ. AlphaOne Investment Services LLC bought a new stake in IQIYI during the fourth quarter worth about $25,000. Joseph P. Lucia & Associates LLC bought a new stake in IQIYI during the first quarter worth about $25,000. Intercontinental Wealth Advisors LLC bought a new stake in IQIYI during the first quarter worth about $40,000. Advisory Services Network LLC boosted its stake in IQIYI by 46.9% during the fourth quarter. Advisory Services Network LLC now owns 3,400 shares of the company’s stock worth $51,000 after acquiring an additional 1,085 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new stake in IQIYI during the first quarter worth about $59,000. 16.46% of the stock is currently owned by institutional investors and hedge funds.

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About IQIYI (NASDAQ:IQ)

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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