iQIYI (NASDAQ:IQ) Hits New 52-Week Low – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $0.8960 and last traded at $0.93, with a volume of 1188459 shares traded. The stock had previously closed at $0.9039.

Wall Street Analyst Weigh In

IQ has been the subject of several analyst reports. Wall Street Zen upgraded iQIYI from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a report on Thursday, August 20th. The Goldman Sachs Group restated a “neutral” rating and issued a $1.40 price target on shares of iQIYI in a research report on Thursday, August 20th. Finally, Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.73.

iQIYI Trading Up 1.8%

The stock’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.24. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $887.72 million, a PE ratio of -7.68 and a beta of 0.19.

Institutional Investors Weigh In On iQIYI

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in shares of iQIYI in the second quarter valued at about $580,000. Triata Capital Ltd purchased a new stake in shares of iQIYI during the second quarter worth about $1,152,419. Bank of New York Mellon Corp raised its stake in iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after purchasing an additional 22,662 shares during the period. Marshall Wace LLP raised its stake in iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock valued at $5,397,000 after purchasing an additional 2,626,502 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI in the 4th quarter worth approximately $8,488,000. 52.69% of the stock is owned by institutional investors.

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.