iQIYI (NASDAQ:IQ) Sets New 1-Year Low – Should You Sell?

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.03 and last traded at $1.10, with a volume of 11725596 shares changing hands. The stock had previously closed at $1.09.

Wall Street Analysts Forecast Growth

IQ has been the topic of several recent analyst reports. Wall Street Zen cut iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $2.22 price objective on shares of iQIYI in a research report on Thursday, February 26th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Finally, Zacks Research raised iQIYI from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.55.

iQIYI Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $1.06 billion, a PE ratio of -11.00 and a beta of 0.19. The firm has a 50-day moving average of $1.24 and a 200 day moving average of $1.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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. Marshall Wace LLP boosted its position in iQIYI by 1,423.3% in the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI in the fourth quarter worth about $8,488,000. Finally, 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. 52.69% of the stock is owned by hedge funds and other institutional investors.

About iQIYI

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.