iQIYI (NASDAQ:IQ) Stock Price Down 4% – Should You Sell?

iQIYI, Inc. (NASDAQ:IQ)’s stock price traded down 4% during mid-day trading on Monday . The company traded as low as $2.18 and last traded at $2.18. 3,990,498 shares traded hands during trading, a decline of 69% from the average session volume of 12,740,189 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

IQ has been the topic of a number of recent research reports. Nomura Securities upgraded iQIYI to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. decreased their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.15.

iQIYI Stock Down 7.9 %

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02. The firm has a 50 day moving average of $2.37 and a two-hundred day moving average of $2.91.

Hedge Funds Weigh In On iQIYI

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in iQIYI by 77.1% in the third 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 during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of iQIYI in the third quarter valued at approximately $835,000. Dimensional Fund Advisors LP raised its holdings in iQIYI by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after buying an additional 694,349 shares during the last quarter. Genesis Investment Management LLP raised its holdings in iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after buying an additional 8,765,711 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock worth $2,875,000 after buying an additional 993,355 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.