iQIYI (NASDAQ:IQ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of iQIYI (NASDAQ:IQ) from a strong sell rating to a sell rating in a research note released on Saturday morning.

Several other research firms also recently commented on IQ. JPMorgan Chase & Co. dropped their target price on iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Benchmark restated a “hold” rating on shares of iQIYI in a report on Wednesday, August 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $1.40 price objective on shares of iQIYI in a research note on Thursday. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.73.

iQIYI Stock Down 4.3%

Shares of IQ opened at $1.01 on Friday. iQIYI has a 52 week low of $0.95 and a 52 week high of $2.84. The stock has a market capitalization of $974.56 million, a price-to-earnings ratio of -8.42 and a beta of 0.19. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a fifty day moving average of $1.16 and a 200-day moving average of $1.28.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IQ. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of iQIYI during the fourth quarter valued at approximately $8,488,000. Marshall Wace LLP boosted its position in iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in iQIYI by 393.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after purchasing an additional 1,716,011 shares during the last quarter. Triata Capital Ltd bought a new position in iQIYI in the 2nd quarter valued at $1,152,419,000. Finally, Catalyst Funds Management Pty Ltd bought a new position in iQIYI in the 4th quarter valued at $1,205,000. 52.69% of the stock is owned by institutional investors.

iQIYI Company Profile

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.