iQIYI (NASDAQ:IQ) Stock Price Down 6.9% – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) dropped 6.9% during mid-day trading on Friday . The company traded as low as $1.17 and last traded at $1.1550. Approximately 1,946,656 shares were traded during trading, a decline of 78% from the average session volume of 8,980,343 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IQ. Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Price Performance

The business’s 50 day moving average is $1.08 and its two-hundred day moving average is $1.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market capitalization of $1.15 billion, a PE ratio of -11.90 and a beta of 0.19.

Institutional Trading of iQIYI

A number of institutional investors have recently added to or reduced their stakes in IQ. Parallel Advisors LLC boosted its stake in iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after purchasing an additional 5,077 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of iQIYI by 2.5% during the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock valued at $495,000 after buying an additional 8,900 shares during the period. Bank of New York Mellon Corp increased its position in shares of iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of iQIYI in the fourth quarter worth about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of iQIYI by 393.4% in the first 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 buying an additional 1,716,011 shares in the last quarter. Hedge funds and other institutional investors 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.