iQIYI (NASDAQ:IQ) Sets New 52-Week Low – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $1.07 and last traded at $1.0850, with a volume of 1322005 shares changing hands. The stock had previously closed at $1.10.

Wall Street Analysts Forecast Growth

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

iQIYI Price Performance

The firm has a fifty day moving average of $1.26 and a 200 day moving average of $1.72. The company has a market capitalization of $1.07 billion, a P/E ratio of -11.05 and a beta of 0.19. The company has a current ratio of 0.45, a quick ratio of 0.47 and a debt-to-equity ratio of 0.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IQ. Parallel Advisors LLC boosted its position in iQIYI by 20.8% in the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after purchasing an additional 5,077 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in iQIYI by 2.5% in the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after purchasing an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in iQIYI by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in iQIYI in the fourth quarter worth about $1,205,000. Finally, 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. 52.69% of the stock is owned by hedge funds and other 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.