iQIYI (NASDAQ:IQ) Shares Gap Down – Time to Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) shares gapped down prior to trading on Friday . The stock had previously closed at $1.10, but opened at $1.05. iQIYI shares last traded at $1.0850, with a volume of 2,380,481 shares trading hands.

Wall Street Analysts Forecast Growth

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

iQIYI Stock Down 4.1%

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -10.55 and a beta of 0.19. The firm’s 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.71. The company has a current ratio of 0.45, a quick ratio of 0.47 and a debt-to-equity ratio of 0.79.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of iQIYI during the 4th quarter worth about $8,488,000. Marshall Wace LLP increased its stake in shares of iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of iQIYI by 393.4% during the 1st 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 purchasing an additional 1,716,011 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of iQIYI during the 4th quarter worth about $1,205,000. Finally, Bank of New York Mellon Corp increased its stake in shares of iQIYI by 4.4% during the 1st 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 during the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.