iQIYI (NASDAQ:IQ) Reaches New 52-Week Low at $1.93

iQIYI, Inc. (NASDAQ:IQ) shares hit a new 52-week low during trading on Monday . The stock traded as low as $1.93 and last traded at $1.93, with a volume of 1714528 shares. The stock had previously closed at $1.97.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Benchmark downgraded shares of iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.45.

iQIYI Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $1.89 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05. The stock’s 50 day simple moving average is $2.95 and its 200 day simple moving average is $3.85.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same period last year, the firm posted $0.05 earnings per share. Research analysts anticipate that iQIYI, Inc. will post 0.16 EPS for the current year.

Hedge Funds Weigh In On iQIYI

A number of institutional investors have recently added to or reduced their stakes in IQ. California State Teachers Retirement System lifted its position in shares of iQIYI by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock valued at $539,000 after buying an additional 2,950 shares in the last quarter. Ballentine Partners LLC increased its stake in iQIYI by 65.0% in the 1st quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after acquiring an additional 7,219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in iQIYI by 59.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock worth $81,000 after acquiring an additional 8,225 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI in the 2nd quarter worth approximately $31,000. Finally, Sei Investments Co. increased its stake in iQIYI by 10.1% in the 2nd quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock worth $412,000 after acquiring an additional 10,342 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.