iQIYI (NASDAQ:IQ) Trading Up 3.3% – Still a Buy?

iQIYI, Inc. (NASDAQ:IQ)’s stock price shot up 3.3% during trading on Thursday . The stock traded as high as $2.19 and last traded at $2.18. 1,926,082 shares traded hands during trading, a decline of 85% from the average session volume of 12,769,712 shares. The stock had previously closed at $2.11.

Analyst Ratings Changes

Several equities analysts recently weighed in on IQ shares. Benchmark restated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. JPMorgan Chase & Co. dropped their target price on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.15.

iQIYI Stock Performance

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.60 and a beta of 0.02. The stock’s fifty day moving average is $2.27 and its 200-day moving average is $2.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in iQIYI by 59.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after buying an additional 8,225 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI in the 2nd quarter valued at $31,000. Sei Investments Co. lifted its position in iQIYI by 10.1% in the 2nd quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock valued at $412,000 after acquiring an additional 10,342 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in iQIYI by 6.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company’s stock worth $687,000 after purchasing an additional 10,700 shares during the period. Finally, Flow Traders U.S. LLC bought a new position in iQIYI during the 3rd quarter worth about $32,000. 52.69% of the stock is owned by institutional investors and hedge funds.

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.