iQIYI (NASDAQ:IQ) Trading 3.8% Higher – Here’s Why

iQIYI, Inc. (NASDAQ:IQ)’s stock price shot up 3.8% on Wednesday . The stock traded as high as $2.30 and last traded at $2.30. 6,591,744 shares traded hands during trading, a decline of 62% from the average session volume of 17,342,941 shares. The stock had previously closed at $2.21.

Analyst Ratings Changes

IQ has been the topic of several analyst reports. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a research report on Thursday, January 16th. Hsbc Global Res raised iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. Citigroup lowered their price objective on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Stock Up 2.9 %

The company has a 50-day moving average of $2.23 and a two-hundred day moving average of $2.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The company has a market capitalization of $2.18 billion, a PE ratio of 22.75, a P/E/G ratio of 4.13 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. Sell-side analysts anticipate that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of iQIYI by 181.1% during the third quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after buying an additional 65,396 shares during the last quarter. FMR LLC raised its stake in shares of iQIYI by 738.1% during the 3rd quarter. FMR LLC now owns 137,793 shares of the company’s stock worth $394,000 after buying an additional 121,352 shares during the period. BNP Paribas Financial Markets lifted its holdings in iQIYI by 77.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after purchasing an additional 815,226 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in iQIYI in the 3rd quarter valued at $32,000. Finally, Atom Investors LP acquired a new position in shares of iQIYI during the 3rd quarter valued at about $318,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

About iQIYI

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.