iQIYI (NASDAQ:IQ) Stock Price Down 5.4% – Should You Sell?

Shares of iQIYI, Inc. (NASDAQ:IQ) were down 5.4% during mid-day trading on Wednesday . The company traded as low as $2.19 and last traded at $2.18. Approximately 9,756,688 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 16,212,554 shares. The stock had previously closed at $2.30.

Wall Street Analyst Weigh In

IQ has been the topic of a number of research analyst reports. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. Citigroup dropped their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. OTR Global restated a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Finally, HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.91.

iQIYI Trading Down 3.7 %

The firm has a market cap of $2.13 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 4.13 and a beta of 0.05. The company has a 50-day simple moving average of $2.16 and a 200 day simple moving average of $2.26. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70.

iQIYI (NASDAQ:IQ) last posted its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The company had revenue of $919.56 million during the quarter, compared to analysts’ expectations of $6.62 billion. As a group, sell-side analysts forecast that iQIYI, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

A number of large investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC acquired a new stake in iQIYI in the 3rd quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new position in iQIYI during the fourth quarter valued at approximately $32,000. Vident Advisory LLC bought a new position in shares of iQIYI during the 4th quarter valued at $33,000. PDS Planning Inc acquired a new position in iQIYI during the 4th quarter worth $35,000. Finally, BTG Pactual Asset Management US LLC bought a new stake in shares of iQIYI in the fourth quarter valued at about $37,000. 52.69% of the stock is owned by institutional investors and hedge funds.

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.