iQIYI, Inc. (NASDAQ:IQ) Short Interest Update

iQIYI, Inc. (NASDAQ:IQ) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 52,410,000 shares, a drop of 6.0% from the October 31st total of 55,770,000 shares. Currently, 10.0% of the company’s stock are sold short. Based on an average daily trading volume, of 19,760,000 shares, the short-interest ratio is presently 2.7 days.

iQIYI Stock Up 0.9 %

Shares of IQ opened at $2.18 on Tuesday. iQIYI has a 52-week low of $1.89 and a 52-week high of $5.80. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $3.07. The company has a market capitalization of $2.09 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.58 and a beta of 0.02.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a report on Tuesday, August 27th. Nomura Securities raised iQIYI to a “hold” rating in a research report on Monday, August 26th. Finally, Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.15.

Hedge Funds Weigh In On iQIYI

A number of institutional investors have recently made changes to their positions in IQ. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of iQIYI during the second quarter worth $31,000. Ground Swell Capital LLC acquired a new position in iQIYI in the 3rd quarter valued at approximately $32,000. Flow Traders U.S. LLC acquired a new position in iQIYI in the third quarter valued at about $32,000. Seven Eight Capital LP acquired a new stake in iQIYI in the second quarter worth about $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in iQIYI during the second quarter worth about $46,000. 52.69% of the stock is owned by institutional investors and hedge funds.

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.