Shares of IQIYI Inc (NASDAQ:IQ) gapped down prior to trading on Wednesday . The stock had previously closed at $19.33, but opened at $17.88. IQIYI shares last traded at $19.12, with a volume of 5,816,448 shares.

Several equities analysts have recently commented on IQ shares. Loop Capital started coverage on shares of IQIYI in a report on Monday, June 3rd. They issued a “hold” rating and a $20.00 price objective on the stock. Jefferies Financial Group started coverage on shares of IQIYI in a report on Monday, August 5th. They issued a “buy” rating and a $21.80 price objective on the stock. China Renaissance Securities restated a “hold” rating on shares of IQIYI in a report on Tuesday. Zacks Investment Research lowered shares of IQIYI from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. started coverage on shares of IQIYI in a report on Friday, August 16th. They issued an “underweight” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.40.

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day moving average is $18.51 and its 200 day moving average is $21.17. The stock has a market capitalization of $12.39 billion, a PE ratio of -7.57 and a beta of 2.99.

IQIYI (NASDAQ:IQ) last posted its earnings results on Monday, August 19th. The company reported ($0.49) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.10. The firm had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.05 billion. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted ($0.45) EPS. Analysts expect that IQIYI Inc will post -1.8 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd purchased a new stake in shares of IQIYI during the second quarter worth about $77,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of IQIYI by 106.9% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 624,607 shares of the company’s stock worth $12,898,000 after buying an additional 322,712 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of IQIYI by 17.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 84,454 shares of the company’s stock worth $1,744,000 after buying an additional 12,460 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of IQIYI during the second quarter worth about $3,924,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of IQIYI by 5.2% during the second quarter. UBS Asset Management Americas Inc. now owns 383,048 shares of the company’s stock worth $7,910,000 after buying an additional 19,095 shares in the last quarter. 20.24% of the stock is currently owned by institutional investors.

About IQIYI (NASDAQ:IQ)

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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