iQIYI (NASDAQ:IQ) Hits New 12-Month Low – Here’s What Happened

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) hit a new 52-week low on Monday . The stock traded as low as $1.4750 and last traded at $1.5450, with a volume of 4339412 shares trading hands. The stock had previously closed at $1.60.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IQ shares. Jefferies Financial Group reissued a “buy” rating and issued a $2.22 price target on shares of iQIYI in a report on Thursday. Morgan Stanley set a $2.10 target price on shares of iQIYI in a research note on Wednesday, November 19th. Zacks Research cut iQIYI from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.55.

iQIYI Stock Performance

The stock has a market capitalization of $1.48 billion, a PE ratio of -51.17 and a beta of 0.09. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.44 and a current ratio of 0.47. The firm has a 50 day moving average of $1.94 and a 200-day moving average of $2.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in iQIYI in the 4th quarter worth approximately $8,488,000. Marshall Wace LLP increased its position in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of iQIYI by 393.4% during the 1st 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 purchasing an additional 1,716,011 shares in the last quarter. SG Americas Securities LLC lifted its holdings 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 valued at $2,781,000 after buying an additional 390,088 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of iQIYI during the 4th quarter valued at about $1,205,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Company Profile

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.