Bilibili (NASDAQ:BILI) Sees Unusually-High Trading Volume After Analyst Upgrade

Bilibili Inc. (NASDAQ:BILI) saw unusually-strong trading volume on Friday after Daiwa America upgraded the stock from a moderate buy rating to a strong-buy rating. Approximately 2,229,758 shares changed hands during mid-day trading, a decline of 68% from the previous session’s volume of 6,874,630 shares.The stock last traded at $14.05 and had previously closed at $12.96.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein boosted their price target on Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday. Daiwa Capital Markets upgraded Bilibili from a “neutral” rating to an “outperform” rating in a research note on Thursday. UBS Group upgraded Bilibili from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.90 to $18.00 in a research note on Friday, May 31st. Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday. Finally, Barclays raised Bilibili from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $19.00 in a report on Friday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.68.

Hedge Funds Weigh In On Bilibili

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Bilibili during the 2nd quarter valued at $29,336,000. OLD Mission Capital LLC acquired a new stake in shares of Bilibili during the 1st quarter valued at $14,849,000. SIH Partners LLLP lifted its holdings in shares of Bilibili by 145.9% in the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after purchasing an additional 709,200 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Bilibili by 385.3% in the second quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock valued at $15,162,000 after purchasing an additional 779,614 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Bilibili in the second quarter valued at $11,490,000. 16.08% of the stock is owned by institutional investors.

Bilibili Price Performance

The stock has a fifty day moving average price of $15.43 and a 200-day moving average price of $13.43. The company has a market cap of $6.17 billion, a PE ratio of -8.95 and a beta of 0.85.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.55). The firm had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Bilibili had a negative return on equity of 26.46% and a negative net margin of 21.41%. Bilibili’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.43) earnings per share. On average, equities analysts anticipate that Bilibili Inc. will post -0.46 earnings per share for the current year.

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.