iQIYI Inc. [NASDAQ: IQ] traded at a low on 01/27/23, posting a -2.50 loss after which it closed the day’ session at $6.24. The company report on January 19, 2023 that iQIYI Announces the Closing of Its Offering of 76,500,000 American Depositary Shares.
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iQIYI, Inc. (Nasdaq: IQ) (“iQIYI” or the “Company”), a leading provider of online entertainment video services in China, today announced the closing of the previously disclosed underwritten public offering (the “Offering”) of 76,500,000 American Depositary Shares of the Company (the “ADSs”), at a public offering price of US$5.90 per ADS. The Company had granted the underwriters a 30-day option to purchase up to an aggregate of 11,475,000 additional ADSs. The net proceeds of the Offering (after deducting underwriting commissions) amounted to US$442.3 million, assuming the underwriters do not exercise the option to purchase additional ADSs.
BofA Securities, Inc., Goldman Sachs (Asia) L.L.C. and J.P. Morgan Securities LLC acted as the joint Bookrunners for the Offering.
The results of the trading session contributed to over 15833061 shares changing hands. Over the past one week, the price volatility of iQIYI Inc. stands at 7.08% while the volatility over the past one month is 10.23%.
The market cap for IQ stock reached $5.54 billion, with 868.85 million shares outstanding and 328.73 million shares in the current float. Compared to the average trading volume of 19.32M shares, IQ reached a trading volume of 15833061 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $5.44 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.
Morgan Stanley have made an estimate for iQIYI Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 19, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on September 07, 2022, representing the official price target for iQIYI Inc. stock. Previously, the target price had yet another raise to $4.80, while UBS analysts kept a Buy rating on IQ stock.
The Average True Range (ATR) for iQIYI Inc. is set at 0.52, with the Price to Sales ratio for IQ stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 6.86, with the Price to Cash per share for the same quarter was set at 0.84.
How has IQ stock performed recently?
iQIYI Inc. [IQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.67. With this latest performance, IQ shares gained by 33.05% in over the last four-week period, additionally plugging by 49.28% over the last 6 months – not to mention a rise of 75.04% 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 61.13, with the RSI for the last a single of trading hit 60.65, and the three-weeks RSI is set at 61.60 for iQIYI Inc. [IQ]. The present Moving Average for the last 50 days of trading for this stock 4.42, while it was recorded at 6.00 for the last single week of trading, and 3.72 for the last 200 days.
iQIYI Inc. [IQ]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and iQIYI Inc. [IQ] shares currently have an operating margin of -14.66 and a Gross Margin at +9.95. iQIYI Inc.’s Net Margin is presently recorded at -20.26.
Return on Equity for this stock declined to -86.10, with Return on Assets sitting at -13.68.
iQIYI Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.40.
Earnings analysis for iQIYI Inc. [IQ]
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%.
Insider trade positions for iQIYI Inc. [IQ]
There are presently around $1,579 million, or 68.40% of IQ stock, in the hands of institutional investors. The top three institutional holders of IQ stocks are: OASIS MANAGEMENT CO LTD. with ownership of 23,529,411, which is approximately New of the company’s market cap and around 0.29% of the total institutional ownership; BANK OF AMERICA CORP /DE/, holding 22,194,955 shares of the stock with an approximate value of $138.5 million in IQ stocks shares; and GOLDMAN SACHS GROUP INC, currently with $126.33 million in IQ stock with ownership of nearly 0.183% of the company’s market capitalization.
Positions in iQIYI Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 82 institutional holders increased their position in iQIYI Inc. [NASDAQ:IQ] by around 62,860,585 shares. Additionally, 81 investors decreased positions by around 32,733,061 shares, while 38 investors held positions by with 157,406,819 shares. The mentioned changes placed institutional holdings at 253,000,465 shares, according to the latest SEC report filing. IQ stock had 21 new institutional investments in for a total of 31,648,776 shares, while 25 institutional investors sold positions of 5,830,040 shares during the same period.