Bilibili (NASDAQ:BILI) Shares Gap Down – Here’s Why

Bilibili Inc. Sponsored ADR (NASDAQ:BILI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.00, but opened at $19.10. Bilibili shares last traded at $18.7950, with a volume of 2,706,667 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BILI shares. Wall Street Zen cut shares of Bilibili from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Citigroup raised shares of Bilibili from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Friday, March 27th. Benchmark reaffirmed a “buy” rating on shares of Bilibili in a research note on Wednesday. Macquarie Infrastructure reaffirmed an “outperform” rating and set a $30.00 price target on shares of Bilibili in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Bilibili from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $27.00 to $35.00 in a research note on Tuesday, March 17th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Bilibili has an average rating of “Moderate Buy” and an average target price of $30.78.

Bilibili Stock Performance

The company has a market capitalization of $7.29 billion, a PE ratio of 39.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.35. The stock’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $26.35.

Bilibili (NASDAQ:BILI) last released its earnings results on Tuesday, May 19th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Bilibili had a net margin of 4.58% and a return on equity of 10.81%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. As a group, equities analysts predict that Bilibili Inc. Sponsored ADR will post 0.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Bilibili by 76.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,628 shares of the company’s stock valued at $37,000 after purchasing an additional 706 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Bilibili by 120.9% in the 1st quarter. Lazard Asset Management LLC now owns 49,758 shares of the company’s stock valued at $1,123,000 after purchasing an additional 27,231 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Bilibili by 121.1% in the 1st quarter. Renaissance Technologies LLC now owns 507,335 shares of the company’s stock valued at $11,445,000 after purchasing an additional 277,900 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Bilibili by 20.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,078 shares of the company’s stock worth $272,000 after acquiring an additional 2,010 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bilibili by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 170,834 shares of the company’s stock worth $3,854,000 after acquiring an additional 11,413 shares during the period. 16.08% of the stock is currently owned by hedge funds and other institutional investors.

Bilibili Company Profile

Bilibili (NASDAQ: BILI) is a leading Chinese online entertainment platform renowned for its focus on animation, comics and games (ACG) content. The company operates a video-sharing website where users can view, upload and comment on a wide range of content, from full-length anime episodes to user-generated short videos. In addition to on-demand streaming, Bilibili offers live broadcasting services that connect creators with fans through real-time interaction features such as “bullet comments” that flow across the screen.

Beyond its core video community, Bilibili generates revenue through multiple value-added services.