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

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.26 and last traded at $1.2750, with a volume of 2751511 shares trading hands. The stock had previously closed at $1.29.

Analyst Ratings Changes

IQ has been the subject of several research analyst reports. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research note on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a report on Thursday, February 26th. Finally, Morgan Stanley set a $2.10 price objective on iQIYI in a research note on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.55.

iQIYI Stock Performance

The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -42.17 and a beta of 0.10. The stock has a 50 day simple moving average of $1.82 and a 200 day simple moving average of $2.11. The company has a quick ratio of 0.44, a current ratio of 0.47 and a debt-to-equity ratio of 0.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IQ. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 last quarter. SBI Securities Co. Ltd. boosted 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 valued at $80,000 after acquiring an additional 29,999 shares during the period. SG Americas Securities LLC grew 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 worth $2,781,000 after acquiring an additional 390,088 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of iQIYI in the 4th quarter worth about $1,205,000. 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.