iQIYI (NASDAQ:IQ) Upgraded at Hsbc Global Res

iQIYI (NASDAQ:IQ) was upgraded by investment analysts at Hsbc Global Res from a “moderate sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

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

iQIYI Stock Up 3.7 %

Shares of NASDAQ IQ opened at $1.94 on Thursday. iQIYI has a 1 year low of $1.82 and a 1 year high of $5.80. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.99 and a beta of 0.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The business has a 50-day moving average of $2.10 and a two-hundred day moving average of $2.57.

Institutional Investors Weigh In On iQIYI

A number of institutional investors have recently added to or reduced their stakes in the business. Genesis Investment Management LLP boosted its position in shares of iQIYI by 112.1% during the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after purchasing an additional 8,765,711 shares in the last quarter. Quarry LP acquired a new stake in shares of iQIYI in the second quarter valued at about $18,075,000. Monolith Management Ltd purchased a new stake in iQIYI during the third quarter worth about $4,576,000. The Manufacturers Life Insurance Company grew its position in iQIYI by 185.4% during the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after buying an additional 1,381,265 shares during the period. Finally, SG Americas Securities LLC increased its holdings in 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 buying an additional 993,355 shares in the last quarter. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Company Profile

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.