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

Bilibili Inc. (NASDAQ:BILI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $23.04, but opened at $22.03. Bilibili shares last traded at $22.45, with a volume of 3,215,292 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BILI. Daiwa America lowered Bilibili from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upgraded shares of Bilibili from a “neutral” rating to an “overweight” rating and set a $21.00 price target for the company in a research note on Tuesday, June 18th. Sanford C. Bernstein raised their price objective on shares of Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Morgan Stanley began coverage on shares of Bilibili in a research note on Wednesday, September 25th. They set an “equal weight” rating and a $20.00 target price for the company. Finally, Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, August 22nd. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.83.

Bilibili Trading Up 1.9 %

The stock has a market cap of $9.70 billion, a PE ratio of -13.13 and a beta of 0.86. The business has a 50 day moving average of $16.75 and a 200-day moving average of $15.12.

Bilibili (NASDAQ:BILI) last announced its earnings results on Thursday, August 22nd. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.55). The business had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.10 billion. Bilibili had a negative net margin of 16.71% and a negative return on equity of 22.44%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.43) earnings per share. Research analysts expect that Bilibili Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Bilibili

A number of institutional investors and hedge funds have recently made changes to their positions in BILI. Quarry LP acquired a new position in Bilibili in the 2nd quarter valued at about $29,336,000. OLD Mission Capital LLC purchased a new position in Bilibili during the 1st quarter worth $14,849,000. SIH Partners LLLP raised its position in Bilibili by 145.9% during the 2nd quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock worth $18,457,000 after buying an additional 709,200 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Bilibili by 385.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock worth $15,162,000 after acquiring an additional 779,614 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Bilibili in the second quarter valued at about $11,490,000. 16.08% of the stock is owned by hedge funds and other institutional investors.

Bilibili Company Profile

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.