iQIYI (NASDAQ:IQ) Stock Rating Upgraded by HSBC

iQIYI (NASDAQ:IQ) was upgraded by stock analysts at HSBC from a “reduce” rating to a “hold” rating in a report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $2.15 price target on the stock. HSBC’s price objective suggests a potential upside of 15.90% from the company’s current price.

IQ has been the topic of several other reports. JPMorgan Chase & Co. lowered their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, iQIYI currently has a consensus rating of “Hold” and a consensus price target of $2.94.

iQIYI Trading Down 0.3 %

iQIYI stock traded down $0.01 during midday trading on Thursday, reaching $1.86. The stock had a trading volume of 2,408,178 shares, compared to its average volume of 13,691,685. The firm’s fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $2.58. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 9.28, a PEG 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. iQIYI has a twelve month low of $1.82 and a twelve month high of $5.80.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IQ. Principal Financial Group Inc. grew its stake in shares of iQIYI by 181.1% in the 3rd quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after purchasing an additional 65,396 shares during the period. Garden State Investment Advisory Services LLC bought a new position in shares of iQIYI during the third quarter valued at $835,000. Franklin Resources Inc. boosted its stake in shares of iQIYI by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock valued at $496,000 after purchasing an additional 23,926 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of iQIYI in the 3rd quarter worth about $164,000. Finally, Virtu Financial LLC bought a new position in iQIYI during the 3rd quarter valued at about $282,000. 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.