Short Interest in IQIYI Inc (IQ) Expands By 5.6%

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IQIYI Inc (NASDAQ:IQ) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 51,373,977 shares, a growth of 5.6% from the April 15th total of 48,671,988 shares. Currently, 16.3% of the shares of the stock are sold short. Based on an average daily volume of 8,885,465 shares, the days-to-cover ratio is currently 5.8 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management raised its position in IQIYI by 1.8% in the 1st quarter. Financial Advocates Investment Management now owns 44,515 shares of the company’s stock worth $1,065,000 after purchasing an additional 775 shares during the last quarter. Graticule Asia Macro Advisors LLC bought a new position in IQIYI in the 1st quarter worth approximately $342,000. Hillhouse Capital Management LTD. raised its position in IQIYI by 0.4% in the 1st quarter. Hillhouse Capital Management LTD. now owns 34,435,070 shares of the company’s stock worth $823,687,000 after purchasing an additional 122,046 shares during the last quarter. Arrowgrass Capital Partners US LP raised its position in IQIYI by 962.6% in the 1st quarter. Arrowgrass Capital Partners US LP now owns 776,378 shares of the company’s stock worth $18,571,000 after purchasing an additional 866,378 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in IQIYI in the 1st quarter worth approximately $148,000. 18.11% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on IQ shares. ValuEngine raised IQIYI from a “hold” rating to a “buy” rating in a report on Friday, March 1st. New Street Research raised IQIYI from a “neutral” rating to a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research downgraded IQIYI from a “hold” rating to a “sell” rating in a report on Friday, March 29th. Tigress Financial started coverage on IQIYI in a report on Friday, March 15th. They set a “buy” rating on the stock. Finally, HSBC decreased their price objective on IQIYI from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.33.

NASDAQ IQ opened at $18.81 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.00 and a current ratio of 1.24. The company has a market cap of $13.53 billion, a price-to-earnings ratio of -7.62 and a beta of 3.24. IQIYI has a 1-year low of $14.35 and a 1-year high of $46.23.

IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Thursday, May 16th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.17. The company had revenue of $6.99 billion for the quarter, compared to the consensus estimate of $6.89 billion. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. The company’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.31) earnings per share. On average, sell-side analysts predict that IQIYI will post -1.38 EPS for the current year.

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About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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