iQIYI Inc. [NASDAQ: IQ] gained 19.05% or 0.44 points to close at $2.75 with a heavy trading volume of 22899533 shares. The company report on November 10, 2022 that iQIYI Original Productions Scored Multiple Wins in Awards Season in China, Solid Proof of Company’s Premium Content Strategy.
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iQIYI, an innovative market-leading online entertainment service in China, acquired major wins in a number of prestigious industry awards with its original productions. The recognitions from various awards including the China TV Golden Eagle Awards and Flying Apsaras Awards demonstrated the success of iQIYI’s long-term strategy in creating premium content.
The strong performance of iQIYI original productions during this awards season spoke to the quality of iQIYI’s artistic productions. The iQIYI-presented shows A Lifelong Journey and Enemy won the Best TV Series Award at the 31st China TV Golden Eagle Awards announced on Nov. 6. One of the most prestigious prizes in China, which features industry experts, members of industry associations, and the general audience on its jury.
It opened the trading session at $2.38, the shares rose to $2.83 and dropped to $2.34, the range by which the price of stock traded the whole day. The daily chart for IQ points out that the company has recorded -7.41% loss over the past six months. However, it is still -66.67% lower than its most recent low trading price.
If we look at the average trading volume of 10.17M shares, IQ reached to a volume of 22899533 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 $5.34 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 2.40. 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.
JP Morgan have made an estimate for iQIYI Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 07, 2022. The new note on the price target was released on September 01, 2022, representing the official price target for iQIYI Inc. stock. Previously, the target price had yet another raise to $2.80, while Macquarie analysts kept a Underperform rating on IQ stock.
The Average True Range (ATR) for iQIYI Inc. is set at 0.26, with the Price to Sales ratio for IQ stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 2.72, with the Price to Cash per share for the same quarter was set at 1.00.
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 12.70. With this latest performance, IQ shares gained by 20.09% in over the last four-week period, additionally sinking by -7.41% over the last 6 months – not to mention a drop of -69.41% 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 60.57, with the RSI for the last a single of trading hit 67.55, and the three-weeks RSI is set at 54.97 for iQIYI Inc. [IQ]. The present Moving Average for the last 50 days of trading for this stock 2.63, while it was recorded at 2.34 for the last single week of trading, and 3.67 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 0.30 and a Current Ratio set at 0.40.
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 9.69%.
An analysis of insider ownership at iQIYI Inc. [IQ]
There are presently around $632 million, or 61.00% of IQ stock, in the hands of institutional investors. The top three institutional holders of IQ stocks are: MORGAN STANLEY with ownership of 21,533,059, which is approximately 0.5% of the company’s market cap and around 0.29% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 20,207,889 shares of the stock with an approximate value of $55.57 million in IQ stocks shares; and HHLR ADVISORS, LTD., currently with $42.39 million in IQ stock with ownership of nearly -60.117% of the company’s market capitalization.
93 institutional holders increased their position in iQIYI Inc. [NASDAQ:IQ] by around 41,114,285 shares. Additionally, 72 investors decreased positions by around 41,726,184 shares, while 39 investors held positions by with 147,023,518 shares. The mentioned changes placed institutional holdings at 229,863,987 shares, according to the latest SEC report filing. IQ stock had 22 new institutional investments in for a total of 4,665,122 shares, while 24 institutional investors sold positions of 5,387,020 shares during the same period.