iQIYI (NASDAQ:IQ) Shares Gap Down – What’s Next?

iQIYI, Inc. (NASDAQ:IQ)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $2.26, but opened at $2.19. iQIYI shares last traded at $2.11, with a volume of 18,692,724 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IQ. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research note on Thursday, January 16th. Citigroup decreased their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2.91.

iQIYI Stock Up 1.0 %

The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 4.13 and a beta of 0.03. The business’s 50 day moving average is $2.13 and its 200-day moving average is $2.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

iQIYI (NASDAQ:IQ) last announced its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The business had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. On average, sell-side analysts predict that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds have recently made changes to their positions in IQ. Corient Private Wealth LLC increased its position in shares of iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after purchasing an additional 7,645 shares in the last quarter. IvyRock Asset Management HK Ltd grew its holdings in shares of iQIYI by 20.0% during the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock worth $121,000 after buying an additional 10,000 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of iQIYI in the third quarter valued at about $32,000. Ground Swell Capital LLC purchased a new position in shares of iQIYI in the third quarter worth about $32,000. Finally, SBI Securities Co. Ltd. acquired a new position in iQIYI during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.