iQIYI (NASDAQ:IQ) Downgraded by Zacks Research to “Strong Sell”

iQIYI (NASDAQ:IQ) was downgraded by Zacks Research from a “hold” rating to a “strong sell” 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 price objective on shares of iQIYI in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.64.

iQIYI Stock Performance

Shares of IQ opened at $2.05 on Thursday. The company has a 50-day moving average of $2.03 and a two-hundred day moving average of $2.17. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -34.08 and a beta of 0.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.44 and a quick ratio of 0.44. iQIYI has a one year low of $1.50 and a one year high of $2.84.

Institutional Trading of iQIYI

Large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its stake in shares of iQIYI by 199.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after purchasing an additional 29,999 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of iQIYI by 48.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 425,400 shares of the company’s stock valued at $753,000 after purchasing an additional 138,300 shares during the last quarter. SG Americas Securities LLC boosted its holdings in iQIYI by 33.0% in the second 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in iQIYI by 393.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after buying an additional 1,716,011 shares during the last quarter. 52.69% of the stock is owned by institutional investors.

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.