iQIYI (NASDAQ:IQ) Stock Price Breaks Above 50 Day Moving Average – Should You Sell?

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $0.96 and traded as high as $0.9778. iQIYI shares last traded at $0.9645, with a volume of 5,590,898 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IQ shares. Wall Street Zen raised shares of iQIYI from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research note on Monday, September 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $1.40 price target on shares of iQIYI in a research report on Thursday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, iQIYI currently has a consensus rating of “Hold” and a consensus target price of $1.73.

iQIYI Stock Up 9.3%

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a market capitalization of $930.66 million, a P/E ratio of -8.04 and a beta of 0.14. The company’s 50-day simple moving average is $0.96 and its two-hundred day simple moving average is $1.22.

Institutional Trading of iQIYI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Triata Capital Ltd bought a new stake in shares of iQIYI during the second quarter valued at approximately $1,152,419. Jefferies Financial Group Inc. boosted its position in shares of iQIYI by 600.0% during the third quarter. Jefferies Financial Group Inc. now owns 1,268,765 shares of the company’s stock worth $1,269,000 after acquiring an additional 1,087,513 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of iQIYI during the second quarter worth $580,000. Squarepoint Ops LLC boosted its position in shares of iQIYI by 831.3% during the second quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock worth $619,000 after acquiring an additional 530,983 shares during the last quarter. Finally, Aberdeen Group plc purchased a new position in iQIYI during the third quarter valued at $278,000. Institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

iQIYI, Inc. is a Chinese online entertainment company that operates a video-streaming platform. Its service offers films, television dramas, variety shows, animation and other video content, including programs produced or commissioned by the company. The company generates business through services such as paid memberships, advertising and content distribution. Its platform is available through its website and mobile and connected-device applications, and iQIYI also offers an international service to viewers in selected markets outside China.