iQIYI (NASDAQ:IQ) Sets New 12-Month Low – What’s Next?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.03 and last traded at $1.0450, with a volume of 2100813 shares changing hands. The stock had previously closed at $1.05.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IQ. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Zacks Research downgraded shares of iQIYI from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 3rd. Wall Street Zen downgraded shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $2.22 price objective on shares of iQIYI in a research note on Thursday, February 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.55.

iQIYI Price Performance

The stock has a market cap of $993.86 million, a price-to-earnings ratio of -10.30 and a beta of 0.19. 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 stock has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IQ. Parallel Advisors LLC lifted its stake in shares of iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after purchasing an additional 5,077 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 6,900 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $721,000 after purchasing an additional 22,662 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of iQIYI during the fourth quarter worth about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 acquiring an additional 1,716,011 shares in the last quarter. 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.