iQIYI (NASDAQ:IQ) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $0.96 and traded as high as $0.9778. iQIYI shares last traded at $0.9645, with a volume of 5,590,898 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IQ shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $1.40 target price on shares of iQIYI in a research report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Monday, September 21st. Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. decreased their price objective on iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a report on Thursday, August 20th. Finally, Wall Street Zen raised iQIYI from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1.73.

iQIYI Trading Down 7.2%

The firm has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $1.21. 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 cap of $799.33 million, a PE ratio of -6.90 and a beta of 0.14.

Institutional Trading of iQIYI

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in iQIYI during the 2nd quarter valued at about $58,000. Aberdeen Group plc purchased a new stake in shares of iQIYI in the third quarter worth about $278,000. Public Employees Retirement System of Ohio lifted its holdings in shares of iQIYI by 2.5% in the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after buying an additional 8,900 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after acquiring an additional 22,662 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of iQIYI by 831.3% in the second quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock valued at $619,000 after acquiring an additional 530,983 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc. is a Chinese online entertainment company that operates a video-streaming platform. Its service offers films, television dramas, variety shows, animation and other video content, including programs produced or commissioned by the company. The company generates business through services such as paid memberships, advertising and content distribution. Its platform is available through its website and mobile and connected-device applications, and iQIYI also offers an international service to viewers in selected markets outside China.