Short Interest in IQIYI Inc (IQ) Rises By 5.6%

IQIYI Inc (NASDAQ:IQ) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 51,373,977 shares, an increase of 5.6% from the April 15th total of 48,671,988 shares. Approximately 16.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,885,465 shares, the short-interest ratio is presently 5.8 days.

Shares of IQ opened at $18.70 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.00. IQIYI has a 1-year low of $14.35 and a 1-year high of $46.23. The company has a market cap of $13.53 billion, a PE ratio of -7.57 and a beta of 3.24.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, May 16th. The company reported ($0.35) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.17. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. The business had revenue of $6.99 billion during the quarter, compared to analysts’ expectations of $6.89 billion. During the same period last year, the company posted ($0.31) EPS. The company’s revenue was up 43.0% on a year-over-year basis. As a group, sell-side analysts expect that IQIYI will post -1.38 earnings per share for the current fiscal year.

IQ has been the subject of a number of research analyst reports. ValuEngine raised shares of IQIYI from a “hold” rating to a “buy” rating in a report on Friday, March 1st. New Street Research raised shares of IQIYI from a “neutral” rating to a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research cut shares of IQIYI from a “hold” rating to a “sell” rating in a report on Friday, March 29th. Tigress Financial initiated coverage on shares of IQIYI in a report on Friday, March 15th. They issued a “buy” rating for the company. Finally, HSBC dropped their target price on shares of IQIYI from $25.00 to $24.00 and set a “hold” rating for the company in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.33.

Several institutional investors and hedge funds have recently modified their holdings of IQ. BlackRock Inc. increased its stake in shares of IQIYI by 12.6% during the 3rd quarter. BlackRock Inc. now owns 228,290 shares of the company’s stock worth $6,180,000 after purchasing an additional 25,495 shares in the last quarter. Morgan Stanley increased its stake in shares of IQIYI by 780.6% during the 3rd quarter. Morgan Stanley now owns 4,272,978 shares of the company’s stock worth $115,670,000 after purchasing an additional 3,787,741 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of IQIYI by 226.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,035,708 shares of the company’s stock worth $109,247,000 after purchasing an additional 2,800,016 shares in the last quarter. FNY Investment Advisers LLC increased its stake in shares of IQIYI by 650.0% during the 4th quarter. FNY Investment Advisers LLC now owns 30,000 shares of the company’s stock worth $446,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of IQIYI by 155.3% during the 4th quarter. Bank of Montreal Can now owns 2,470,252 shares of the company’s stock worth $36,732,000 after purchasing an additional 1,502,517 shares in the last quarter. 18.11% of the stock is owned by institutional investors and hedge funds.

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IQIYI Company Profile

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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