Bilibili (NASDAQ:BILI) Shares Gap Down to $18.63

Bilibili Inc. (NASDAQ:BILI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $18.63, but opened at $17.70. Bilibili shares last traded at $17.51, with a volume of 1,594,339 shares.

Wall Street Analysts Forecast Growth

BILI has been the subject of several recent research reports. Barclays upgraded shares of Bilibili from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $19.00 in a research report on Friday, August 23rd. Daiwa Capital Markets upgraded Bilibili from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein lifted their target price on Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Bank of America boosted their price target on Bilibili from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Nomura Securities raised Bilibili from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Bilibili currently has an average rating of “Moderate Buy” and a consensus target price of $16.91.

Bilibili Stock Performance

The company has a market capitalization of $7.52 billion, a PE ratio of -10.56 and a beta of 0.83. The stock has a fifty day moving average of $14.84 and a 200 day moving average of $14.22.

Bilibili (NASDAQ:BILI) last released its earnings results on Thursday, August 22nd. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.55). Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the firm posted ($0.43) EPS. Bilibili’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Bilibili Inc. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Bilibili

Large investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Bilibili during the second quarter valued at approximately $7,799,000. Point72 Asset Management L.P. purchased a new stake in shares of Bilibili during the 2nd quarter worth approximately $8,128,000. Quarry LP bought a new position in shares of Bilibili during the 2nd quarter valued at approximately $29,336,000. Creative Planning grew its holdings in shares of Bilibili by 6.7% in the second quarter. Creative Planning now owns 25,819 shares of the company’s stock valued at $399,000 after purchasing an additional 1,632 shares in the last quarter. Finally, SIH Partners LLLP increased its position in Bilibili by 145.9% in the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock worth $18,457,000 after purchasing an additional 709,200 shares during the last quarter. 16.08% of the stock is owned by institutional investors.

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.