iQIYI (NASDAQ:IQ) Sets New 12-Month Low – Should You Sell?

iQIYI, Inc. (NASDAQ:IQ) reached a new 52-week low during trading on Thursday . The company traded as low as $1.92 and last traded at $1.96, with a volume of 6605685 shares changing hands. The stock had previously closed at $2.18.

Analysts Set New Price Targets

A number of research firms have commented on IQ. Nomura Securities raised shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research report on Tuesday, August 27th. Finally, Benchmark downgraded shares of iQIYI from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.45.

iQIYI Stock Performance

The business’s 50-day moving average price is $2.47 and its 200-day moving average price is $3.26. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.85 billion, a PE ratio of 8.17, a P/E/G ratio of 0.56 and a beta of 0.08.

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

Institutional Trading of iQIYI

A number of institutional investors have recently bought and sold shares of IQ. Sei Investments Co. boosted its stake in iQIYI by 23.1% in the 1st quarter. Sei Investments Co. now owns 101,928 shares of the company’s stock worth $431,000 after purchasing an additional 19,100 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in iQIYI by 62.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 130,248 shares of the company’s stock valued at $554,000 after purchasing an additional 50,078 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of iQIYI by 32.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 466,189 shares of the company’s stock valued at $1,973,000 after buying an additional 115,400 shares during the period. Natixis acquired a new stake in iQIYI during the first quarter worth about $536,000. Finally, Lazard Asset Management LLC lifted its holdings in iQIYI by 206.5% in the first quarter. Lazard Asset Management LLC now owns 1,137,614 shares of the company’s stock valued at $4,812,000 after acquiring an additional 766,436 shares during the period. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Company Profile

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.