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

Shares of Bilibili Inc. (NASDAQ:BILI) gapped down prior to trading on Thursday . The stock had previously closed at $18.11, but opened at $17.64. Bilibili shares last traded at $17.42, with a volume of 1,213,426 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Bilibili from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.50 to $22.60 in a research note on Thursday, September 26th. Daiwa Capital Markets raised shares of Bilibili from a “neutral” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark lifted their target price on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Daiwa America raised Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley assumed coverage on shares of Bilibili in a research report on Wednesday, September 25th. They set an “equal weight” rating and a $20.00 price target for the company. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.69.

Bilibili Trading Down 3.3 %

The firm has a market cap of $7.26 billion, a price-to-earnings ratio of -19.03 and a beta of 0.80. The company has a 50 day moving average of $20.07 and a 200 day moving average of $18.08.

Bilibili (NASDAQ:BILI) last released its quarterly earnings results on Thursday, November 14th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.10 by $0.47. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.14 billion. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. Bilibili’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.39) earnings per share. As a group, sell-side analysts anticipate that Bilibili Inc. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Bilibili

Several institutional investors and hedge funds have recently made changes to their positions in BILI. Quarry LP acquired a new stake in shares of Bilibili during the second quarter worth $29,336,000. First Beijing Investment Ltd increased its position in shares of Bilibili by 96.2% during the 3rd quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock worth $88,694,000 after purchasing an additional 1,860,496 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Bilibili by 422.0% in the third quarter. BNP Paribas Financial Markets now owns 2,256,058 shares of the company’s stock valued at $52,747,000 after acquiring an additional 1,823,829 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Bilibili by 14,710.1% during the third quarter. Two Sigma Advisers LP now owns 1,762,400 shares of the company’s stock worth $41,205,000 after purchasing an additional 1,750,500 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Bilibili by 208.4% during the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after acquiring an additional 1,221,433 shares during the period. Institutional investors and hedge funds own 16.08% of the company’s stock.

About Bilibili

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.