Shares of IQIYI Inc (NASDAQ:IQ) rose 10.2% during trading on Thursday . The stock traded as high as $20.40 and last traded at $20.03. Approximately 22,639,824 shares traded hands during trading, an increase of 130% from the average daily volume of 9,858,380 shares. The stock had previously closed at $18.18.
IQ has been the topic of several recent analyst reports. ValuEngine raised shares of IQIYI from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Tigress Financial assumed coverage on shares of IQIYI in a research report on Friday, March 15th. They set a “buy” rating on the stock. Zacks Investment Research downgraded shares of IQIYI from a “hold” rating to a “sell” rating in a report on Friday, March 29th. HSBC dropped their price target on shares of IQIYI from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 2nd. Finally, Loop Capital assumed coverage on shares of IQIYI in a report on Monday, June 3rd. They set a “hold” rating and a $20.00 price target on the stock. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.14.
The company’s fifty day moving average price is $18.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $13.18 billion, a PE ratio of -8.11 and a beta of 3.21.
IQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.17. The firm had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.89 billion. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.31) EPS. As a group, equities analysts predict that IQIYI Inc will post -1.38 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hillhouse Capital Management Ltd. boosted its holdings in shares of IQIYI by 1,633.8% in the fourth quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock worth $510,235,000 after buying an additional 32,333,917 shares during the last quarter. WT Asset Management Ltd bought a new stake in IQIYI during the 1st quarter worth approximately $53,067,000. Krane Funds Advisors LLC raised its stake in IQIYI by 3.4% during the 1st quarter. Krane Funds Advisors LLC now owns 3,552,529 shares of the company’s stock worth $84,976,000 after acquiring an additional 115,453 shares during the period. Ward Ferry Management BVI Ltd raised its stake in IQIYI by 56.0% during the 1st quarter. Ward Ferry Management BVI Ltd now owns 2,725,300 shares of the company’s stock worth $65,189,000 after acquiring an additional 978,200 shares during the period. Finally, Bank of America Corp DE raised its stake in IQIYI by 240.9% during the 4th quarter. Bank of America Corp DE now owns 2,444,498 shares of the company’s stock worth $36,350,000 after acquiring an additional 1,727,430 shares during the period. 19.44% of the stock is currently owned by institutional investors.
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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