iQIYI (NASDAQ:IQ) Shares Gap Up – Still a Buy?

iQIYI, Inc. (NASDAQ:IQ) shares gapped up prior to trading on Friday . The stock had previously closed at $2.52, but opened at $2.69. iQIYI shares last traded at $2.51, with a volume of 12,766,807 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IQ. JPMorgan Chase & Co. reduced their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. OTR Global reiterated a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. HSBC upgraded 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. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Friday, January 24th. Finally, Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, iQIYI presently has an average rating of “Hold” and a consensus price target of $2.91.

iQIYI Stock Performance

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 stock’s fifty day moving average is $2.13 and its two-hundred day moving average is $2.37. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 3.76 and a beta of 0.03.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. iQIYI had a return on equity of 13.26% and a net margin of 4.69%. During the same period last year, the business posted $0.07 earnings per share. On average, analysts expect that iQIYI, Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of iQIYI in the fourth quarter valued at approximately $721,000. Northern Trust Corp increased its position in shares of iQIYI by 94.5% during the 4th quarter. Northern Trust Corp now owns 1,230,272 shares of the company’s stock valued at $2,473,000 after purchasing an additional 597,819 shares during the period. Two Sigma Securities LLC raised its stake in shares of iQIYI by 141.3% in the 4th quarter. Two Sigma Securities LLC now owns 155,717 shares of the company’s stock worth $313,000 after buying an additional 91,179 shares in the last quarter. SIH Partners LLLP lifted its holdings in shares of iQIYI by 191.6% in the fourth quarter. SIH Partners LLLP now owns 221,900 shares of the company’s stock valued at $446,000 after buying an additional 145,800 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock valued at $22,135,000 after buying an additional 3,235,223 shares in the last quarter. 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.