iQIYI (NASDAQ:IQ) Sets New 1-Year Low – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.03 and last traded at $1.10, with a volume of 11725596 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

IQ has been the subject of a number of research reports. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $2.22 price objective on shares of iQIYI in a report on Thursday, February 26th. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Finally, Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.55.

iQIYI Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $1.24 and a two-hundred day moving average price of $1.69. The stock has a market capitalization of $1.06 billion, a P/E ratio of -11.00 and a beta of 0.19.

Hedge Funds Weigh In On iQIYI

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its holdings 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 acquiring an additional 8,900 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 acquiring an additional 22,662 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after acquiring an additional 2,626,502 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of iQIYI during the fourth quarter valued at $8,488,000. Finally, Parallel Advisors LLC increased its holdings in shares of 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 acquiring an additional 5,077 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors.

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.