iQIYI (NASDAQ:IQ) Hits New 1-Year Low – Time to Sell?

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) hit a new 52-week low on Monday . The stock traded as low as $1.4750 and last traded at $1.5450, with a volume of 4339412 shares changing hands. The stock had previously closed at $1.60.

Wall Street Analyst Weigh In

Several research firms have recently commented on IQ. Jefferies Financial Group reaffirmed a “buy” rating and set a $2.22 price target on shares of iQIYI in a research report on Thursday, February 26th. Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Monday, December 29th. Finally, Morgan Stanley set a $2.10 price objective on iQIYI in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, iQIYI has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Price Performance

The company has a fifty day moving average of $1.93 and a 200-day moving average of $2.17. The company has a current ratio of 0.47, a quick ratio of 0.44 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.43 billion, a PE ratio of -49.67 and a beta of 0.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in iQIYI during the 4th quarter worth approximately $8,488,000. Marshall Wace LLP increased its position in shares of iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after acquiring an additional 2,626,502 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 valued at $4,864,000 after acquiring an additional 1,716,011 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in iQIYI in the fourth quarter valued at $1,205,000. Finally, SG Americas Securities LLC grew its stake in iQIYI by 33.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock worth $2,781,000 after purchasing an additional 390,088 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.