iQIYI (NASDAQ:IQ) Shares Gap Down – Time to Sell?

iQIYI, Inc. (NASDAQ:IQ)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $2.54, but opened at $2.42. iQIYI shares last traded at $2.38, with a volume of 10,345,600 shares.

Analysts Set New Price Targets

Several research firms recently issued reports on IQ. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. cut their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Wednesday. Finally, Citigroup reduced their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Trading Down 9.9 %

The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 3.72 and a beta of 0.03. The company has a fifty day moving average price of $2.13 and a 200-day moving average price of $2.35. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65.

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 net margin of 2.62% and a return on equity of 7.67%. The business had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. As a group, research analysts expect that iQIYI, Inc. will post 0.04 EPS for the current year.

Institutional Trading of iQIYI

Institutional investors have recently modified their holdings of the stock. Flow Traders U.S. LLC acquired a new stake in iQIYI in the 3rd quarter valued at about $32,000. Ground Swell Capital LLC acquired a new position in iQIYI in the third quarter valued at about $32,000. SBI Securities Co. Ltd. acquired a new position in iQIYI during the fourth quarter worth $32,000. Vident Advisory LLC acquired a new position in iQIYI during the 4th quarter worth about $33,000. Finally, PDS Planning Inc purchased a new position in shares of iQIYI in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

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.