iQIYI (NASDAQ:IQ) Sets New 52-Week Low – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s share price reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $0.8134 and last traded at $0.8350, with a volume of 4,301,791 shares changing hands. The stock had previously closed at $0.8930.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $1.40 price objective on shares of iQIYI in a report on Thursday, August 20th. Benchmark reissued a “hold” rating on shares of iQIYI in a report on Wednesday, August 19th. JPMorgan Chase & Co. decreased their price target on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1.73.

iQIYI Stock Down 7.2%

The stock has a 50-day moving average price of $0.96 and a 200-day moving average price of $1.21. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $799.33 million, a P/E ratio of -6.90 and a beta of 0.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of iQIYI in the 2nd quarter valued at $58,000. Aberdeen Group plc bought a new position in iQIYI during the third quarter worth $278,000. Public Employees Retirement System of Ohio raised its stake in iQIYI by 2.5% during 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 during the last quarter. Bank of New York Mellon Corp raised its stake in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after buying an additional 22,662 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in iQIYI by 831.3% during the second quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock worth $619,000 after buying an additional 530,983 shares during the last quarter. Institutional investors and hedge funds 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.