iQIYI (NASDAQ:IQ) Sets New 52-Week Low – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price reached a new 52-week low on Thursday . The company traded as low as $1.07 and last traded at $1.0850, with a volume of 1322005 shares trading hands. The stock had previously closed at $1.10.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IQ. Jefferies Financial Group reaffirmed a “buy” rating and issued a $2.22 price target on shares of iQIYI in a research note on Thursday, February 26th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Tuesday. Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research note on Friday, March 27th. Finally, Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, iQIYI has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.47. The firm has a market cap of $1.07 billion, a PE ratio of -11.05 and a beta of 0.19. The firm has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $1.72.

Hedge Funds Weigh In On iQIYI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after buying an additional 5,077 shares during the period. Public Employees Retirement System of Ohio lifted its position in iQIYI by 1.6% during 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. Bank of New York Mellon Corp lifted its position in 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 position in iQIYI during the fourth quarter valued at $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in iQIYI by 393.4% during 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 valued at $4,864,000 after buying an additional 1,716,011 shares during the period. 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.