iQIYI (NASDAQ:IQ) Trading Down 4.6% – Time to Sell?

iQIYI, Inc. (NASDAQ:IQ) was down 4.6% during mid-day trading on Friday . The company traded as low as $2.48 and last traded at $2.49. Approximately 7,523,507 shares changed hands during trading, a decline of 34% from the average daily volume of 11,467,938 shares. The stock had previously closed at $2.61.

Analyst Ratings Changes

A number of research analysts recently issued reports on IQ shares. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Hsbc Global Res lowered shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. HSBC lowered shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their price target for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Finally, Nomura Securities raised shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, iQIYI presently has an average rating of “Hold” and an average price target of $3.45.

iQIYI Price Performance

The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $2.42 and its 200 day moving average is $3.49. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 10.54, a P/E/G ratio of 0.73 and a beta of 0.07.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a return on equity of 14.57% and a net margin of 5.37%. During the same quarter in the previous year, the company earned $0.05 earnings per share. On average, equities research analysts anticipate that iQIYI, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

A number of large investors have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new position in iQIYI in the 2nd quarter valued at approximately $31,000. Ground Swell Capital LLC bought a new position in iQIYI in the 3rd quarter valued at approximately $32,000. Seven Eight Capital LP bought a new position in iQIYI in the 2nd quarter valued at approximately $42,000. Vanguard Personalized Indexing Management LLC bought a new position in iQIYI in the 2nd quarter valued at approximately $46,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in iQIYI by 59.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after buying an additional 8,225 shares during the last quarter. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.