iQIYI Inc. [NASDAQ: IQ] gained 2.56% or 0.23 points to close at $9.23 with a heavy trading volume of 4980851 shares. The company report on October 12, 2021 that iQIYI Announces New ‘Light On’ Series and Big Win at BIFF Asia Contents Awards including ‘Best OTT Original’.
iQIYI, Inc. (NASDAQ:IQ) (“iQIYI” or ‘the Company’), an innovative market-leading online entertainment service in China, announced that its original drama The Long Night beat various acclaimed works to 2021’s ACA prize for the ‘Best OTT Original’ at the 3rd Asia Contents Awards (ACA) of the Busan International Film Festival (“BIFF”) held in Busan, South Korea, on October 7, 2021. This marks the second consecutive year of iQIYI winning the award, followed by its original suspense series The Bad Kids’ win at the 2nd Asia Contents Awards last year.
The news follows the recent announcement the ‘Light On’ series’ return after one year, and the introduction of 4 new ‘Light On’ series – The Pavilion, Who is The Murderer, Gold Panning, and Wisher – for viewers around the world.
It opened the trading session at $8.93, the shares rose to $9.23 and dropped to $8.85, the range by which the price of stock traded the whole day. The daily chart for IQ points out that the company has recorded -39.87% loss over the past six months. However, it is still -27.84% lower than its most recent low trading price.
If we look at the average trading volume of 8.67M shares, IQ reached to a volume of 4980851 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about iQIYI Inc. [IQ]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IQ shares is $15.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IQ stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for iQIYI Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 24, 2021. While these analysts kept the previous recommendation, CLSA dropped their target price from $25.50 to $16. The new note on the price target was released on May 19, 2021, representing the official price target for iQIYI Inc. stock. Previously, the target price had yet another drop from $18 to $15, while JP Morgan kept a Neutral rating on IQ stock.
The Average True Range (ATR) for iQIYI Inc. is set at 0.50, with the Price to Sales ratio for IQ stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 5.92, with the Price to Cash per share for the same quarter was set at 2.60.
Trading performance analysis for IQ stock
iQIYI Inc. [IQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.56. With this latest performance, IQ shares dropped by -0.32% in over the last four-week period, additionally sinking by -39.87% over the last 6 months – not to mention a drop of -60.99% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IQ stock in for the last two-week period is set at 57.93, with the RSI for the last a single of trading hit 66.58, and the three-weeks RSI is set at 52.24 for iQIYI Inc. [IQ]. The present Moving Average for the last 50 days of trading for this stock 9.06, while it was recorded at 8.53 for the last single week of trading, and 15.72 for the last 200 days.
iQIYI Inc. [IQ]: A deeper dive into fundamental analysis
iQIYI Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.
iQIYI Inc. [IQ]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for iQIYI Inc. go to 5.75%.
An analysis of insider ownership at iQIYI Inc. [IQ]
There are presently around $2,410 million, or 72.40% of IQ stock, in the hands of institutional investors. The top three institutional holders of IQ stocks are: HHLR ADVISORS, LTD. with ownership of 38,648,477, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 21,631,891 shares of the stock with an approximate value of $199.66 million in IQ stocks shares; and BANK OF AMERICA CORP /DE/, currently with $183.62 million in IQ stock with ownership of nearly 81.906% of the company’s market capitalization.
135 institutional holders increased their position in iQIYI Inc. [NASDAQ:IQ] by around 78,830,918 shares. Additionally, 114 investors decreased positions by around 112,033,205 shares, while 36 investors held positions by with 70,193,908 shares. The mentioned changes placed institutional holdings at 261,058,031 shares, according to the latest SEC report filing. IQ stock had 38 new institutional investments in for a total of 7,052,520 shares, while 54 institutional investors sold positions of 17,192,882 shares during the same period.