iQIYI (NASDAQ:IQ) Shares Up 7.7% – Still a Buy?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shot up 7.7% on Wednesday . The company traded as high as $1.1950 and last traded at $1.1950. 7,224,116 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 10,618,275 shares. The stock had previously closed at $1.11.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IQ shares. Jefferies Financial Group reiterated a “buy” rating and set a $2.22 price objective on shares of iQIYI in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen lowered shares of iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.55.

iQIYI Stock Up 3.4%

The stock has a market capitalization of $1.18 billion, a P/E ratio of -40.67 and a beta of 0.26. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $1.36 and its 200 day simple moving average is $1.81.

Institutional Trading of iQIYI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its position in iQIYI by 20.8% in the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after acquiring an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of iQIYI by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after acquiring an additional 6,900 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in iQIYI in the 4th quarter worth approximately $1,205,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of iQIYI by 393.4% in 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 valued at $4,864,000 after purchasing an additional 1,716,011 shares during the period. Finally, Marshall Wace LLP boosted its holdings 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 worth $5,397,000 after buying an additional 2,626,502 shares during the period. 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.