Brokerages Set iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) PT at $2.51

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have received a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2.5140.

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of iQIYI from $2.10 to $2.50 and gave the company a “buy” rating in a research report on Wednesday, August 20th. UBS Group upgraded iQIYI from a “neutral” rating to a “buy” rating and set a $3.32 price target for the company in a research note on Thursday, August 21st. Cfra Research cut shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Thursday, August 28th. CLSA raised iQIYI from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen cut shares of iQIYI from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th.

Hedge Funds Weigh In On iQIYI

Several hedge funds have recently bought and sold shares of IQ. Vident Advisory LLC purchased a new position in shares of iQIYI in the 4th quarter worth approximately $33,000. Public Employees Retirement System of Ohio boosted its stake in iQIYI by 924.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 314,600 shares of the company’s stock valued at $632,000 after acquiring an additional 283,900 shares in the last quarter. Wellington Management Group LLP purchased a new position in iQIYI in the fourth quarter worth $1,998,000. SG Americas Securities LLC increased its position in shares of iQIYI by 56.6% during the first quarter. SG Americas Securities LLC now owns 1,181,344 shares of the company’s stock worth $2,670,000 after purchasing an additional 427,076 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its stake in shares of iQIYI by 23.6% during the first quarter. Krane Funds Advisors LLC now owns 26,905,091 shares of the company’s stock worth $60,806,000 after acquiring an additional 5,141,322 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

iQIYI Trading Down 2.2%

Shares of iQIYI stock opened at $2.63 on Wednesday. The firm has a market cap of $2.53 billion, a PE ratio of 263.26 and a beta of -0.14. iQIYI has a 1 year low of $1.50 and a 1 year high of $3.35. The company has a 50 day simple moving average of $2.31 and a two-hundred day simple moving average of $2.02. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.42 and a quick ratio of 0.42.

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.