iQIYI (NASDAQ:IQ) Hits New 1-Year Low at $3.10

iQIYI, Inc. (NASDAQ:IQGet Free Report)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $3.10 and last traded at $3.10, with a volume of 2561615 shares changing hands. The stock had previously closed at $3.27.

Wall Street Analysts Forecast Growth

IQ has been the subject of several analyst reports. Benchmark reissued a “buy” rating and issued a $9.00 target price on shares of iQIYI in a report on Wednesday, November 22nd. JPMorgan Chase & Co. downgraded iQIYI from an “overweight” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.39.

Get Our Latest Analysis on iQIYI

iQIYI Price Performance

The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 15.65 and a beta of 0.27. The stock has a fifty day simple moving average of $4.33 and a 200-day simple moving average of $4.78. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.51 and a quick ratio of 0.51.

iQIYI (NASDAQ:IQGet Free Report) last announced its earnings results on Tuesday, November 21st. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. iQIYI had a return on equity of 13.39% and a net margin of 4.26%. On average, equities research analysts anticipate that iQIYI, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IQ. Robeco Institutional Asset Management B.V. grew its stake in shares of iQIYI by 1,117.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 17,356,739 shares of the company’s stock valued at $82,271,000 after buying an additional 15,931,422 shares in the last quarter. Anatole Investment Management Ltd acquired a new position in iQIYI in the 1st quarter valued at about $46,956,000. Federated Hermes Inc. increased its stake in iQIYI by 147.8% during the third quarter. Federated Hermes Inc. now owns 10,603,420 shares of the company’s stock worth $50,260,000 after purchasing an additional 6,324,876 shares during the period. Renaissance Technologies LLC increased its stake in iQIYI by 65.7% during the 1st quarter. Renaissance Technologies LLC now owns 11,816,799 shares of the company’s stock worth $86,026,000 after buying an additional 4,685,999 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new position in shares of iQIYI in the third quarter worth $19,434,000. 30.65% of the stock is currently owned by hedge funds and other institutional investors.

iQIYI Company Profile

(Get Free Report)

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.

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