iQIYI (NASDAQ:IQ) Hits New 1-Year Low – Here’s What Happened

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s share price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $0.8560 and last traded at $0.8460, with a volume of 493,977 shares traded. The stock had previously closed at $0.8770.

Wall Street Analyst Weigh In

Several analysts have recently commented on IQ shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $1.40 price objective on shares of iQIYI in a research report on Thursday, August 20th. Wall Street Zen upgraded shares of iQIYI from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a report on Monday, September 21st. Finally, Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1.73.

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 0.81. The business has a 50-day moving average price of $0.99 and a two-hundred day moving average price of $1.29. The company has a market capitalization of $806.67 million, a price-to-earnings ratio of -7.00 and a beta of 0.13.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Triata Capital Ltd acquired a new stake in shares of iQIYI in the 2nd quarter worth about $1,152,419. Squarepoint Ops LLC boosted its stake in iQIYI by 831.3% during the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock valued at $619,000 after purchasing an additional 530,983 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in iQIYI during the 2nd quarter valued at about $580,000. Tidal Investments LLC acquired a new position in iQIYI during the 2nd quarter valued at about $58,000. Finally, Bank of New York Mellon Corp increased its holdings 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 worth $721,000 after purchasing an additional 22,662 shares in the last quarter. 52.69% of the stock is owned by institutional investors.

iQIYI Company Profile

iQIYI, Inc is a Chinese online entertainment company that operates the iQIYI streaming platform. The company provides internet video services, including professionally produced television dramas, films, variety shows, documentaries, anime and other entertainment programming. Its content is available through websites and mobile applications, with offerings supported by subscription memberships, advertising and other content-related services.

iQIYI develops and licenses content, including original productions created through its in-house studios and programming obtained from external producers and rights holders.