iQIYI, Inc. (NASDAQ:IQ) Short Interest Update

iQIYI, Inc. (NASDAQ:IQGet Free Report) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 59,930,000 shares, a growth of 6.7% from the September 15th total of 56,150,000 shares. Approximately 11.4% of the company’s stock are short sold. Based on an average daily volume of 15,560,000 shares, the short-interest ratio is presently 3.9 days.

iQIYI Stock Down 3.7 %

Shares of NASDAQ:IQ opened at $2.36 on Friday. iQIYI has a 12-month low of $1.92 and a 12-month high of $5.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $2.52 and a two-hundred day simple moving average of $3.61. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 0.70 and a beta of 0.07.

iQIYI (NASDAQ:IQGet Free Report) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, research analysts anticipate that iQIYI will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IQ has been the subject of several research analyst reports. Benchmark lowered shares of iQIYI from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. reduced their target price on iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. The Goldman Sachs Group downgraded shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a research note on Tuesday, August 27th. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Finally, HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and decreased their target price for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. One research 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, iQIYI has a consensus rating of “Hold” and an average target price of $3.45.

Get Our Latest Report on iQIYI

Institutional Trading of iQIYI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. increased its holdings in iQIYI by 404.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 190,129 shares of the company’s stock worth $544,000 after acquiring an additional 152,418 shares in the last quarter. Creative Planning increased its holdings in shares of iQIYI by 31.5% in the 3rd quarter. Creative Planning now owns 108,280 shares of the company’s stock worth $310,000 after buying an additional 25,961 shares during the last quarter. Genesis Investment Management LLP raised its position in iQIYI by 112.1% during the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after purchasing an additional 8,765,711 shares during the period. SG Americas Securities LLC raised its holdings in iQIYI by 8,351.7% during the 3rd quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after buying an additional 993,355 shares during the period. Finally, Quarry LP purchased a new stake in shares of iQIYI in the second quarter valued at $18,075,000. 52.69% of the stock is owned by hedge funds and other institutional investors.

About iQIYI

(Get Free Report)

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.

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