IQIYI (NASDAQ:IQ) Stock Price Up 7%

IQIYI Inc (NASDAQ:IQ) rose 7% on Wednesday . The stock traded as high as $20.32 and last traded at $19.32, approximately 17,114,464 shares changed hands during trading. An increase of 92% from the average daily volume of 8,920,762 shares. The stock had previously closed at $18.05.

IQ has been the subject of several recent research reports. Sanford C. Bernstein raised IQIYI from an “underperform” rating to a “market perform” rating in a report on Thursday. Loop Capital initiated coverage on IQIYI in a report on Monday, June 3rd. They set a “hold” rating and a $20.00 price target for the company. Credit Suisse Group downgraded IQIYI from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on IQIYI in a report on Monday, August 5th. They set a “buy” rating and a $21.80 price target for the company. Finally, Zacks Investment Research downgraded IQIYI from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.40.

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average of $17.88 and a two-hundred day moving average of $20.75. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of -8.00 and a beta of 2.97.



IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.49) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.10. IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. The firm had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same period last year, the company earned ($0.45) earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities analysts anticipate that IQIYI Inc will post -1.94 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Hillhouse Capital Management LTD. lifted its holdings in IQIYI by 4.6% in the second quarter. Hillhouse Capital Management LTD. now owns 36,006,170 shares of the company’s stock valued at $743,527,000 after acquiring an additional 1,571,100 shares during the period. Hillhouse Capital Advisors LTD. lifted its holdings in IQIYI by 15.5% in the second quarter. Hillhouse Capital Advisors LTD. now owns 14,510,018 shares of the company’s stock valued at $299,632,000 after acquiring an additional 1,952,530 shares during the period. Morgan Stanley lifted its holdings in IQIYI by 77.6% in the second quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock valued at $280,508,000 after acquiring an additional 5,934,451 shares during the period. WT Asset Management Ltd acquired a new stake in IQIYI in the first quarter valued at $53,067,000. Finally, Bank of America Corp DE lifted its holdings in IQIYI by 852.6% in the second quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock valued at $169,191,000 after acquiring an additional 7,333,157 shares during the period. 23.27% of the stock is owned by institutional investors.

About IQIYI (NASDAQ:IQ)

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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