iQIYI, Inc. (NASDAQ:IQ) Given Average Rating of “Reduce” by Brokerages

iQIYI, Inc. (NASDAQ:IQ) has been assigned a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $3.15.

A number of brokerages have recently issued reports on IQ. JPMorgan Chase & Co. dropped their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd.

Hedge Funds Weigh In On iQIYI

Large investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI in the 2nd quarter valued at $31,000. Ground Swell Capital LLC acquired a new stake in shares of iQIYI during the third quarter worth $32,000. Flow Traders U.S. LLC acquired a new stake in shares of iQIYI during the third quarter worth $32,000. Seven Eight Capital LP bought a new stake in shares of iQIYI in the second quarter valued at about $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of iQIYI in the second quarter valued at about $46,000. 52.69% of the stock is owned by institutional investors.

iQIYI Stock Performance

IQ opened at $2.11 on Friday. The business’s 50-day simple moving average is $2.29 and its 200 day simple moving average is $2.79. iQIYI has a 52-week low of $1.89 and a 52-week high of $5.80. 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 firm has a market capitalization of $2.02 billion, a PE ratio of 10.55, a PEG ratio of 0.60 and a beta of 0.02.

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.