iQIYI (NASDAQ:IQ) Upgraded by Wall Street Zen to Sell Rating

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

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Wednesday, June 24th. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a report on Thursday. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $1.40 price objective on shares of iQIYI in a report on Thursday. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, iQIYI has an average rating of “Hold” and an average price target of $1.73.

iQIYI Trading Up 2.4%

Shares of iQIYI stock opened at $1.05 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.45 and a current ratio of 0.45. iQIYI has a 52 week low of $0.95 and a 52 week high of $2.84. The stock has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.29. The stock has a market capitalization of $1.02 billion, a PE ratio of -8.79 and a beta of 0.19.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IQ. Parallel Advisors LLC boosted its position in shares of iQIYI by 20.8% during the fourth quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after buying an additional 5,077 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in iQIYI by 2.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock valued at $495,000 after buying an additional 8,900 shares during the last quarter. Bank of New York Mellon Corp raised its position in iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI in the 4th quarter valued at $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in iQIYI by 393.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after acquiring an additional 1,716,011 shares in the last quarter. Institutional investors own 52.69% of the company’s stock.

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.