iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Receives Average Rating of “Hold” from Analysts

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) has been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.5740.

IQ has been the topic of a number of research analyst reports. Morgan Stanley set a $2.10 target price on iQIYI in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a research report on Monday.

iQIYI Stock Down 1.5%

iQIYI stock opened at $1.92 on Friday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -32.00 and a beta of 0.03. The firm has a fifty day moving average price of $2.08 and a two-hundred day moving average price of $2.14. iQIYI has a fifty-two week low of $1.50 and a fifty-two week high of $2.84. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.44 and a quick ratio of 0.44.

Institutional Investors Weigh In On iQIYI

Hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in shares of iQIYI by 102.3% in the 1st quarter. HighTower Advisors LLC now owns 15,639 shares of the company’s stock worth $35,000 after acquiring an additional 698,342 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in iQIYI by 393.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after acquiring an additional 1,716,011 shares during the period. Public Employees Retirement System of Ohio increased its holdings in iQIYI by 48.2% in the second quarter. Public Employees Retirement System of Ohio now owns 425,400 shares of the company’s stock valued at $753,000 after purchasing an additional 138,300 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of iQIYI by 199.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after buying an additional 29,999 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of iQIYI by 33.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after acquiring an additional 390,088 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.