iQIYI (NASDAQ:IQ) Trading 1.6% Higher – Here’s What Happened
by Amy Steele · The Cerbat GemiQIYI, Inc. Sponsored ADR (NASDAQ:IQ – Get Free Report) was up 1.6% during trading on Monday . The stock traded as high as $1.95 and last traded at $1.94. Approximately 4,177,382 shares traded hands during trading, a decline of 67% from the average daily volume of 12,478,852 shares. The stock had previously closed at $1.91.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on IQ shares. Morgan Stanley set a $2.10 target price on shares of iQIYI in a research note on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research note on Monday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, iQIYI presently has an average rating of “Hold” and an average price target of $2.57.
View Our Latest Stock Analysis on iQIYI
iQIYI Price Performance
The company’s 50-day simple moving average is $2.09 and its 200-day simple moving average is $2.14. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.75.
Hedge Funds Weigh In On iQIYI
Several hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in iQIYI by 102.3% in the 1st quarter. HighTower Advisors LLC now owns 15,639 shares of the company’s stock valued at $35,000 after purchasing an additional 698,342 shares during the last quarter. DRW Securities LLC acquired a new position in shares of iQIYI in the 1st quarter worth approximately $33,000. Nomura Holdings Inc. boosted its stake in shares of iQIYI by 461.7% in the 1st quarter. Nomura Holdings Inc. now owns 1,614,192 shares of the company’s stock valued at $3,648,000 after purchasing an additional 1,326,830 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of iQIYI by 393.4% during 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 buying an additional 1,716,011 shares during the period. Finally, Public Employees Retirement System of Ohio raised its stake in iQIYI by 48.2% during the second quarter. Public Employees Retirement System of Ohio now owns 425,400 shares of the company’s stock worth $753,000 after buying an additional 138,300 shares during 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.