iQIYI (NASDAQ:IQ) Upgraded by Hsbc Global Res to Hold Rating

Hsbc Global Res upgraded shares of iQIYI (NASDAQ:IQ) from a moderate sell rating to a hold rating in a research note published on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on IQ. JPMorgan Chase & Co. cut their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a report on Thursday. OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Citigroup cut their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday. Finally, Benchmark reissued a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Stock Performance

Shares of IQ stock opened at $1.94 on Thursday. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.99 and a beta of 0.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The company has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $2.56. iQIYI has a 52 week low of $1.82 and a 52 week high of $5.80.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Garden State Investment Advisory Services LLC purchased a new stake in shares of iQIYI in the third quarter valued at about $835,000. BNP Paribas Financial Markets raised its holdings in shares of iQIYI by 77.1% in the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock valued at $5,354,000 after purchasing an additional 815,226 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of iQIYI by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after purchasing an additional 694,349 shares during the last quarter. Genesis Investment Management LLP raised its holdings in shares of iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock valued at $47,425,000 after purchasing an additional 8,765,711 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of iQIYI by 8,351.7% in the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after purchasing an additional 993,355 shares during the last quarter. 52.69% of the stock is owned by institutional investors.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.