Hsbc Global Res Upgrades iQIYI (NASDAQ:IQ) to Hold

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

A number of other equities research analysts have also recently weighed in on the stock. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Friday, November 22nd. Citigroup dropped their target price on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target on the stock in a research note on Thursday. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company 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. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.99 and a beta of 0.02. iQIYI has a 12-month low of $1.82 and a 12-month high of $5.80. The business has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.57. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65.

Institutional Investors Weigh In On iQIYI

Several large investors have recently bought and sold shares of IQ. Skandinaviska Enskilda Banken AB publ acquired a new position in iQIYI during the 2nd quarter worth approximately $31,000. Ground Swell Capital LLC purchased a new stake in iQIYI during the third quarter worth approximately $32,000. Flow Traders U.S. LLC acquired a new position in iQIYI in the third quarter valued at approximately $32,000. Seven Eight Capital LP purchased a new position in iQIYI in the second quarter valued at approximately $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in iQIYI during the second quarter worth approximately $46,000. 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.