Shares of IQIYI Inc (NASDAQ:IQ) rose 5% on Thursday . The company traded as high as $18.50 and last traded at $18.16. Approximately 16,001,864 shares were traded during trading, an increase of 70% from the average daily volume of 9,388,133 shares. The stock had previously closed at $17.29.
A number of brokerages have recently commented on IQ. Jefferies Financial Group began coverage on shares of IQIYI in a research note on Monday, October 8th. They issued a “buy” rating and a $33.00 price target for the company. Zacks Investment Research lowered shares of IQIYI from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. HSBC began coverage on shares of IQIYI in a research note on Wednesday, December 12th. They issued a “hold” rating and a $22.00 price target for the company. ValuEngine lowered shares of IQIYI from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Finally, Credit Suisse Group upgraded shares of IQIYI from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.17.
The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.95 and a current ratio of 0.95.
IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Tuesday, October 30th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.22). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Analysts forecast that IQIYI Inc will post -2.39 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new stake in IQIYI in the fourth quarter worth $86,000. Vanguard Group Inc increased its position in IQIYI by 226.6% in the third quarter. Vanguard Group Inc now owns 4,035,708 shares of the company’s stock worth $109,247,000 after purchasing an additional 2,800,016 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in IQIYI in the third quarter worth $1,711,000. Marshall Wace LLP increased its position in IQIYI by 44.5% in the third quarter. Marshall Wace LLP now owns 297,922 shares of the company’s stock worth $8,065,000 after purchasing an additional 91,816 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in IQIYI in the third quarter worth $2,685,000. Hedge funds and other institutional investors own 8.07% of the company’s stock.
IQIYI Company Profile (NASDAQ:IQ)
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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