iQIYI (NASDAQ:IQ) Stock Rating Upgraded by Zacks Research

iQIYI (NASDAQ:IQ) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

IQ has been the topic of several other reports. Morgan Stanley set a $2.10 target price on iQIYI in a research report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.55.

iQIYI Stock Performance

Shares of NASDAQ IQ opened at $1.31 on Thursday. The stock has a market capitalization of $1.26 billion, a P/E ratio of -43.67 and a beta of 0.10. iQIYI has a 52-week low of $1.26 and a 52-week high of $2.84. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $2.12.

Hedge Funds Weigh In On iQIYI

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after buying an additional 5,077 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of iQIYI by 199.7% during the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after acquiring an additional 29,999 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after purchasing an additional 6,900 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI in the fourth quarter valued at approximately $1,205,000. Finally, SG Americas Securities LLC increased its stake in shares of iQIYI by 33.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock worth $2,781,000 after purchasing an additional 390,088 shares during the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

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.