Short Interest in iQIYI, Inc. (NASDAQ:IQ) Decreases By 18.5%

iQIYI, Inc. (NASDAQ:IQ) experienced a notable decrease in short interest during January. By January 31st, the short interest was recorded at 33,470,000 shares, reflecting a substantial drop of 18.5% from the earlier figure of 41,060,000 shares reported on January 15th. With an average daily trading volume of 21,660,000 shares, the current short-interest ratio stands at 1.5 days. This indicates that approximately 6.4% of the company’s shares are currently sold short.

Analysts Set New Price Targets

Several research analysts have recently issued reports on iQIYI. On January 16th, HSBC Global Research elevated its rating on iQIYI from "moderate sell" to "hold," while increasing the price target to $2.15. Benchmark reiterated a "hold" rating on January 24th. Conversely, OTR Global maintained a "negative" rating previously on January 8th. Citigroup also made adjustments, reducing its price target from $3.00 to $2.80, but retained a "buy" recommendation for the stock. Overall, one analyst has issued a sell rating, six provide hold recommendations, and one has given a buy rating, resulting in a consensus rating of "Hold" with an average target price of $2.91, according to MarketBeat.

iQIYI Stock Performance

On the trading front, iQIYI shares rose by $0.02, reaching $2.54 on the last recorded Monday. A total of 37,883,172 shares changed hands, compared to the average trading volume of 24,730,406 shares. The company holds a debt-to-equity ratio of 0.65, a current ratio of 0.45, and a quick ratio also at 0.45. Over the past 50 days, iQIYI has recorded a moving average price of $2.13, and a 200-day moving average price of $2.36. The stock’s fifty-two-week low stands at $1.82, while its fifty-two-week high is $5.80. Currently, iQIYI’s market capitalization is $2.44 billion with a price-to-earnings ratio of 12.70 and a P/E/G ratio of 3.76. Additionally, the beta is recorded at 0.03.

iQIYI last reported its earnings on November 21st, showing earnings per share (EPS) of $0.06 for the quarter. This exceeded analysts’ consensus estimate of $0.04 by $0.02. The company achieved a return on equity of 13.26% with a net margin of 4.69%. In the same quarter the previous year, EPS was reported at $0.07. Analysts currently forecast iQIYI to post an EPS of 0.14 for the ongoing year.

Institutional Investors Weigh In On iQIYI

Recent movements among institutional investors reveal significant changes in holdings of iQIYI. Woodline Partners LP acquired a new stake worth approximately $6,818,000 during the fourth quarter. Additionally, Vident Advisory LLC and LMR Partners LLP also entered new investments valued at approximately $33,000 and $237,000, respectively. Lighthouse Investment Partners LLC invested about $1,410,000, and Brevan Howard Capital Management LP raised its stake significantly by 272.1% during the same quarter, now holding 670,146 shares valued at approximately $1,347,000. In total, institutional investors now hold around 52.69% of iQIYI’s stock.

About iQIYI

iQIYI, Inc., along with its subsidiaries, provides online entertainment video services primarily in the People’s Republic of China. The company offers a diverse range of products and services including online video, games, literature, animations, and more. Through its platform, iQIYI provides a vast collection of internet video content, both licensed from various content creators and self-produced content.

iQIYI, Stock, Short