iQIYI, Inc. (NASDAQ:IQ) Sees Significant Decline in Short Interest

by · The Markets Daily

iQIYI, Inc. (NASDAQ:IQ – Get Free Report) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 52,410,000 shares, a drop of 6.0% from the October 31st total of 55,770,000 shares. Currently, 10.0% of the company’s shares are sold short. Based on an average daily volume of 19,760,000 shares, the days-to-cover ratio is currently 2.7 days.

iQIYI Price Performance

Shares of NASDAQ IQ opened at $2.18 on Tuesday. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.58 and a beta of 0.02. The company has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $3.07. iQIYI has a fifty-two week low of $1.89 and a fifty-two week high of $5.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45.

Analyst Ratings Changes

A number of brokerages have commented on IQ. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. The Goldman Sachs Group lowered iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.15.

Check Out Our Latest Report on IQ

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of iQIYI during the 2nd quarter valued at about $31,000. Ground Swell Capital LLC acquired a new stake in shares of iQIYI in the third quarter worth $32,000. Flow Traders U.S. LLC acquired a new stake in iQIYI in the 3rd quarter valued at $32,000. Seven Eight Capital LP acquired a new position in iQIYI during the 2nd quarter worth $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in iQIYI in the second quarter worth $46,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

About iQIYI

(Get Free Report)

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.

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