iQIYI (NASDAQ:IQ) Reaches New 1-Year Low – What’s Next?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) reached a new 52-week low during trading on Wednesday . The company traded as low as $1.03 and last traded at $1.10, with a volume of 11725596 shares. The stock had previously closed at $1.09.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IQ shares. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Jefferies Financial Group restated a “buy” rating and issued a $2.22 price target on shares of iQIYI in a report on Thursday, February 26th. Benchmark restated a “hold” rating on shares of iQIYI in a report on Tuesday, May 19th. Finally, Wall Street Zen cut shares of iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.55.

iQIYI Trading Up 6.6%

The stock has a market capitalization of $1.09 billion, a P/E ratio of -11.30 and a beta of 0.19. The stock’s 50 day moving average price is $1.23 and its 200-day moving average price is $1.67. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.79.

Hedge Funds Weigh In On iQIYI

Several institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after acquiring an additional 5,077 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock valued at $495,000 after acquiring an additional 8,900 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after acquiring an additional 22,662 shares during the period. Catalyst Funds Management Pty Ltd purchased a new position in shares of iQIYI in the 4th quarter valued at $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of iQIYI by 393.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after acquiring an additional 1,716,011 shares during the period. 52.69% of the stock is owned by hedge funds and other institutional investors.

About iQIYI

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.