iQIYI (NASDAQ:IQ) Shares Gap Down to $4.20

Shares of iQIYI, Inc. (NASDAQ:IQ) gapped down before the market opened on Friday . The stock had previously closed at $4.20, but opened at $4.10. iQIYI shares last traded at $4.13, with a volume of 249,970 shares.

Analyst Ratings Changes

Separately, OTR Global restated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.54.

iQIYI Stock Down 2.6 %

The company has a market capitalization of $3.92 billion, a P/E ratio of 18.59 and a beta of 0.27. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average price is $3.95 and its 200 day moving average price is $4.29.

iQIYI (NASDAQ:IQ) last issued its earnings results on Wednesday, February 28th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. iQIYI had a return on equity of 13.56% and a net margin of 4.76%. As a group, equities research analysts predict that iQIYI, Inc. will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in iQIYI by 92.1% in the first quarter. FMR LLC now owns 6,366 shares of the company’s stock valued at $46,000 after buying an additional 3,052 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of iQIYI in the third quarter valued at approximately $49,000. CIBC Asset Management Inc acquired a new position in shares of iQIYI in the 4th quarter worth approximately $51,000. Mariner LLC bought a new stake in iQIYI during the 3rd quarter worth approximately $53,000. Finally, Ballentine Partners LLC acquired a new stake in iQIYI during the 4th quarter valued at $54,000. Institutional investors and hedge funds 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.