iQIYI (NASDAQ:IQ) Shares Gap Down to $3.97

iQIYI, Inc. (NASDAQ:IQ) gapped down prior to trading on Friday . The stock had previously closed at $3.97, but opened at $3.87. iQIYI shares last traded at $3.88, with a volume of 2,981,289 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IQ. OTR Global reissued a “mixed” rating on shares of iQIYI in a research report on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $9.00 price objective on shares of iQIYI in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.18.

iQIYI Stock Down 2.8 %

The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.68. The firm has a market cap of $3.70 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.29 and a beta of 0.15. The stock has a fifty day simple moving average of $4.61 and a two-hundred day simple moving average of $4.26.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. As a group, sell-side analysts expect that iQIYI, Inc. will post 0.38 EPS for the current fiscal year.

Institutional Trading of iQIYI

Several hedge funds and other institutional investors have recently bought and sold shares of IQ. Ballentine Partners LLC bought a new position in shares of iQIYI during the fourth quarter valued at approximately $54,000. Raymond James Financial Services Advisors Inc. purchased a new position in iQIYI in the fourth quarter worth about $61,000. Pathstone Family Office LLC purchased a new position in shares of iQIYI during the 3rd quarter valued at about $62,000. Tower Research Capital LLC TRC lifted its position in shares of iQIYI by 321.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock valued at $86,000 after buying an additional 13,417 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of iQIYI during the 4th quarter valued at about $114,000. Institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.