IQIYI (IQ) Shares Gap Down to $26.94
IQIYI Inc (NASDAQ:IQ) shares gapped down before the market opened on Tuesday . The stock had previously closed at $27.48, but opened at $26.94. IQIYI shares last traded at $26.69, with a volume of 7174842 shares traded.
A number of research analysts recently issued reports on IQ shares. Zacks Investment Research raised shares of IQIYI from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Saturday, August 4th. Bank of America lifted their price objective on shares of IQIYI from $35.50 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, August 1st. CLSA started coverage on shares of IQIYI in a research note on Tuesday, September 4th. They issued a “buy” rating on the stock. Credit Suisse Group cut shares of IQIYI from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 1st. Finally, Goldman Sachs Group cut shares of IQIYI from a “buy” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Thursday, August 2nd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. IQIYI has an average rating of “Buy” and an average price target of $30.00.
The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.01.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. acquired a new position in shares of IQIYI during the second quarter worth $105,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of IQIYI during the second quarter worth $113,000. BB&T Securities LLC acquired a new position in shares of IQIYI during the first quarter worth $171,000. SeaCrest Wealth Management LLC acquired a new position in shares of IQIYI during the second quarter worth $208,000. Finally, GAM Holding AG acquired a new position in shares of IQIYI during the second quarter worth $216,000. 5.56% of the stock is currently owned by hedge funds and other institutional investors.
IQIYI Company Profile (NASDAQ:IQ)
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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