iQIYI (NASDAQ:IQ) Raised to Hold at HSBC

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

Several other brokerages have also recently weighed in on IQ. Benchmark reissued a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. OTR Global reissued a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.94.

iQIYI Trading Down 0.3 %

NASDAQ:IQ traded down $0.01 during trading hours on Thursday, hitting $1.86. 2,408,178 shares of the stock were exchanged, compared to its average volume of 13,691,685. The company has a market capitalization of $1.78 billion, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 1.99 and a beta of 0.02. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $2.12 and its two-hundred day moving average is $2.58. iQIYI has a twelve month low of $1.82 and a twelve month high of $5.80.

Hedge Funds Weigh In On iQIYI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Genesis Investment Management LLP lifted its position in shares of iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after purchasing an additional 8,765,711 shares in the last quarter. Quarry LP acquired a new position in shares of iQIYI during the 2nd quarter worth approximately $18,075,000. Monolith Management Ltd bought a new stake in shares of iQIYI during the 3rd quarter worth approximately $4,576,000. The Manufacturers Life Insurance Company boosted its holdings in shares of iQIYI by 185.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after buying an additional 1,381,265 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of iQIYI by 8,351.7% in the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company’s stock valued at $2,875,000 after buying an additional 993,355 shares in the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

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.