Brokerages Set iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Price Target at $2.64

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) has earned a consensus rating of “Hold” from the four ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.64.

IQ has been the topic of several recent research reports. Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Morgan Stanley set a $2.10 price objective on iQIYI in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research report on Monday, December 29th.

Hedge Funds Weigh In On iQIYI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in shares of 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 acquiring an additional 5,077 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in iQIYI by 199.7% in the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock valued at $80,000 after buying an additional 29,999 shares during the period. Public Employees Retirement System of Ohio lifted its stake in iQIYI by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after buying an additional 6,900 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in shares of iQIYI during the 4th quarter worth approximately $1,205,000. Finally, SG Americas Securities LLC grew its position in shares of iQIYI by 33.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock worth $2,781,000 after buying an additional 390,088 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Price Performance

IQ stock opened at $1.79 on Friday. The company has a market capitalization of $1.72 billion, a P/E ratio of -29.83 and a beta of 0.08. The company has a fifty day moving average price of $1.96 and a 200-day moving average price of $2.18. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.44 and a current ratio of 0.44. iQIYI has a 52-week low of $1.50 and a 52-week high of $2.84.

iQIYI Company Profile

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.