iQIYI (NASDAQ:IQ) Stock Price Down 5.7% – What’s Next?

iQIYI, Inc. (NASDAQ:IQ) dropped 5.7% on Friday . The stock traded as low as $1.74 and last traded at $1.73. Approximately 3,791,346 shares changed hands during trading, a decline of 83% from the average daily volume of 22,850,415 shares. The stock had previously closed at $1.83.

Wall Street Analysts Forecast Growth

IQ has been the subject of several research analyst reports. Wall Street Zen cut iQIYI from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, iQIYI has an average rating of “Hold” and a consensus price target of $2.91.

iQIYI Stock Performance

The firm has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $2.03. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 4.13 and a beta of -0.18.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $988.19 million during the quarter, compared to analyst estimates of $7.10 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. As a group, sell-side analysts expect that iQIYI, Inc. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On iQIYI

Large investors have recently modified their holdings of the stock. Lighthouse Investment Partners LLC bought a new stake in shares of iQIYI in the 4th quarter valued at approximately $1,410,000. Y Intercept Hong Kong Ltd bought a new position in iQIYI in the 4th quarter valued at $468,000. Harvest Fund Management Co. Ltd boosted its position in iQIYI by 13.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,228,223 shares of the company’s stock valued at $6,489,000 after buying an additional 393,834 shares during the last quarter. Northern Trust Corp lifted its stake in shares of iQIYI by 94.5% in the 4th quarter. Northern Trust Corp now owns 1,230,272 shares of the company’s stock valued at $2,473,000 after purchasing an additional 597,819 shares during the period. Finally, E Fund Management Co. Ltd. lifted its stake in shares of iQIYI by 39.6% in the 4th quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company’s stock valued at $5,362,000 after purchasing an additional 756,552 shares during the period. 52.69% of the stock is currently owned by institutional investors.

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.