iQIYI (NASDAQ:IQ) Shares Gap Down Following Weak Earnings

iQIYI, Inc. (NASDAQ:IQ) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $1.86, but opened at $1.79. iQIYI shares last traded at $1.69, with a volume of 7,820,981 shares.

The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). iQIYI had a net margin of 2.62% and a return on equity of 7.62%.

Analyst Ratings Changes

Separately, Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.91.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new position in shares of iQIYI in the first quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in iQIYI during the fourth quarter valued at approximately $32,000. Vident Advisory LLC acquired a new stake in iQIYI during the fourth quarter valued at approximately $33,000. DRW Securities LLC acquired a new stake in iQIYI during the first quarter valued at approximately $33,000. Finally, PDS Planning Inc acquired a new stake in iQIYI during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Price Performance

The company has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $2.10. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 4.13 and a beta of -0.14. The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70.

iQIYI Company Profile

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.