iQIYI, Inc. (NASDAQ:IQ) Short Interest Down 18.5% in January

iQIYI, Inc. (NASDAQ:IQ) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 33,470,000 shares, a decrease of 18.5% from the January 15th total of 41,060,000 shares. Approximately 6.4% of the company’s shares are sold short. Based on an average daily trading volume, of 21,660,000 shares, the short-interest ratio is currently 1.5 days.

iQIYI Stock Performance

NASDAQ IQ traded up $0.02 during trading hours on Monday, reaching $2.54. The company’s stock had a trading volume of 37,883,172 shares, compared to its average volume of 24,730,406. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $2.36. iQIYI has a 52 week low of $1.82 and a 52 week high of $5.80. The stock has a market cap of $2.44 billion, a PE ratio of 12.70, a PEG ratio of 3.76 and a beta of 0.03.

iQIYI (NASDAQ:IQ) last issued its earnings results 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 net margin of 4.69% and a return on equity of 13.26%. During the same period in the previous year, the company earned $0.07 EPS. Equities research analysts predict that iQIYI will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Large investors have recently made changes to their positions in the company. Corient Private Wealth LLC increased its stake in shares of iQIYI by 37.3% during the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock valued at $57,000 after acquiring an additional 7,645 shares during the period. IvyRock Asset Management HK Ltd grew its position in iQIYI by 20.0% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock worth $121,000 after buying an additional 10,000 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in iQIYI in the third quarter worth approximately $32,000. Ground Swell Capital LLC acquired a new position in iQIYI in the third quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. acquired a new position in iQIYI in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IQ shares. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a report on Thursday, January 16th. Hsbc Global Res raised shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. Citigroup reduced their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $2.91.

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.