iQIYI (NASDAQ:IQ) Shares Up 3.9%

iQIYI, Inc. (NASDAQ:IQ)’s share price shot up 3.9% on Wednesday . The stock traded as high as $4.81 and last traded at $4.76. 5,377,844 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 8,318,943 shares. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

Separately, OTR Global restated a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.54.

iQIYI Stock Performance

The stock’s 50-day moving average price is $4.05 and its 200-day moving average price is $4.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 22.68 and a beta of 0.27.

iQIYI (NASDAQ:IQ) last posted its earnings results on Wednesday, February 28th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. iQIYI had a return on equity of 13.56% and a net margin of 4.76%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. As a group, equities research analysts expect that iQIYI, Inc. will post 0.38 earnings per share for the current year.

Institutional Trading of iQIYI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ballentine Partners LLC acquired a new stake in iQIYI in the 4th quarter valued at $54,000. Raymond James Financial Services Advisors Inc. purchased a new position in iQIYI in the 4th quarter valued at about $61,000. Pathstone Family Office LLC purchased a new position in iQIYI in the 3rd quarter valued at about $62,000. Tower Research Capital LLC TRC boosted its position in iQIYI by 321.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock valued at $86,000 after buying an additional 13,417 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of iQIYI during the fourth quarter worth about $114,000. 52.69% of the stock is currently 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.