iQIYI (NASDAQ:IQ) Hits New 12-Month Low – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares reached a new 52-week low on Monday . The company traded as low as $1.34 and last traded at $1.3550, with a volume of 5480127 shares traded. The stock had previously closed at $1.44.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IQ. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research note on Monday, December 29th. Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Morgan Stanley set a $2.10 target price on iQIYI in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $2.22 price target on shares of iQIYI in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, iQIYI currently has an average rating of “Hold” and an average target price of $2.55.

iQIYI Stock Down 6.2%

The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.30 billion, a P/E ratio of -45.00 and a beta of 0.10. The stock’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $2.15.

Hedge Funds Weigh In On iQIYI

Several institutional investors have recently modified their holdings of IQ. SG Americas Securities LLC increased its position in shares of iQIYI by 33.0% during the second quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after acquiring an additional 390,088 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in iQIYI by 199.7% in the second 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 boosted its position in iQIYI by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 6,900 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in iQIYI in the 4th quarter valued at $8,488,000. Finally, Marshall Wace LLP increased its position in shares of iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. 52.69% of the stock is owned by institutional investors.

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.