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

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $0.9806 and last traded at $0.9930, with a volume of 4787209 shares. The stock had previously closed at $1.01.

Analyst Ratings Changes

A number of research firms have issued reports on IQ. Zacks Research lowered shares of iQIYI from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $2.22 price target on shares of iQIYI in a research report on Thursday, February 26th. Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Benchmark reissued a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.55.

iQIYI Stock Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.45 and a current ratio of 0.45. The firm’s 50 day moving average is $1.14 and its 200-day moving average is $1.53. The stock has a market capitalization of $953.33 million, a price-to-earnings ratio of -9.88 and a beta of 0.19.

Institutional Investors Weigh In On iQIYI

A number of institutional investors have recently modified their holdings of the business. Catalyst Funds Management Pty Ltd purchased a new position in shares of iQIYI in the 4th quarter valued at about $1,205,000. Public Employees Retirement System of Ohio grew its holdings 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 valued at $1,107,000 after purchasing an additional 6,900 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of iQIYI in the fourth quarter valued at approximately $8,488,000. Marshall Wace LLP increased its position in shares of iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after buying an additional 2,626,502 shares in the last quarter. Finally, 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 buying an additional 1,716,011 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.