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

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) gapped down before the market opened on Friday . The stock had previously closed at $1.10, but opened at $1.05. iQIYI shares last traded at $1.0850, with a volume of 2,380,481 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of iQIYI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a report on Friday, March 27th. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $2.22 price objective on shares of iQIYI in a report on Thursday, February 26th. Finally, Benchmark reaffirmed 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.55.

iQIYI Trading Down 4.1%

The stock has a market capitalization of $1.02 billion, a P/E ratio of -10.55 and a beta of 0.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.45 and a quick ratio of 0.47. The business’s 50 day simple moving average is $1.25 and its 200-day simple moving average is $1.71.

Hedge Funds Weigh In On iQIYI

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its position in shares of iQIYI by 1,423.3% during 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of iQIYI during the fourth quarter worth $8,488,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of iQIYI by 393.4% during 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 in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock worth $1,107,000 after purchasing an additional 6,900 shares in the last quarter. Finally, 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 worth $57,000 after purchasing an additional 5,077 shares in the last quarter. 52.69% of the stock is owned by 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.