Bilibili (NASDAQ:BILI) Shares Gap Down to $29.66

Shares of Bilibili Inc. (NASDAQ:BILI) gapped down before the market opened on Thursday . The stock had previously closed at $29.66, but opened at $27.29. Bilibili shares last traded at $27.73, with a volume of 6,812,729 shares traded.

Wall Street Analyst Weigh In

BILI has been the topic of a number of recent analyst reports. Barclays upgraded Bilibili from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $19.00 in a research report on Friday, August 23rd. The Goldman Sachs Group upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.50 to $22.60 in a research report on Thursday, September 26th. Daiwa Capital Markets upgraded shares of Bilibili from a “neutral” rating to an “outperform” rating in a report on Thursday, August 22nd. Daiwa America upgraded Bilibili from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Finally, Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.83.

Bilibili Trading Down 7.7 %

The firm has a market capitalization of $11.30 billion, a P/E ratio of -15.92 and a beta of 0.83. The company has a 50-day moving average of $15.86 and a 200-day moving average of $14.69.

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

Institutional Investors Weigh In On Bilibili

Several hedge funds and other institutional investors have recently bought and sold shares of BILI. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Bilibili during the 2nd quarter valued at about $7,799,000. Point72 Asset Management L.P. purchased a new position in shares of Bilibili during the second quarter valued at approximately $8,128,000. Quarry LP bought a new stake in Bilibili during the second quarter worth $29,336,000. Creative Planning grew its holdings in Bilibili by 6.7% during the second quarter. Creative Planning now owns 25,819 shares of the company’s stock worth $399,000 after buying an additional 1,632 shares in the last quarter. Finally, SIH Partners LLLP raised its position in Bilibili by 145.9% in the 2nd quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after buying 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.