Bilibili (NASDAQ:BILI) Shares Down 6.9% – Here’s What Happened

Shares of Bilibili Inc. (NASDAQ:BILI) were down 6.9% on Thursday . The stock traded as low as $19.02 and last traded at $19.17. Approximately 1,939,705 shares were traded during trading, a decline of 74% from the average daily volume of 7,331,606 shares. The stock had previously closed at $20.59.

Analysts Set New Price Targets

BILI has been the topic of a number of recent research reports. The Goldman Sachs Group raised Bilibili from a “neutral” rating to a “buy” rating and lifted their target price for the company from $16.50 to $22.60 in a research report on Thursday, September 26th. Bank of America boosted their price objective on shares of Bilibili from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Daiwa Capital Markets cut shares of Bilibili from an “outperform” rating to a “neutral” rating in a report on Thursday, October 3rd. Barclays upgraded shares of Bilibili from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $19.00 in a research note on Friday, August 23rd. Finally, Nomura upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, August 22nd. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.83.

Bilibili Stock Performance

The business has a fifty day moving average of $17.52 and a two-hundred day moving average of $15.54. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of -11.48 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last released its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.55). The company 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%. Bilibili’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. As a group, sell-side analysts predict that Bilibili Inc. will post -0.37 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. CWM LLC boosted its stake in Bilibili by 61.9% in the 2nd quarter. CWM LLC now owns 2,232 shares of the company’s stock valued at $34,000 after purchasing an additional 853 shares during the period. SG Americas Securities LLC boosted its position in shares of Bilibili by 4.9% in the second quarter. SG Americas Securities LLC now owns 33,711 shares of the company’s stock valued at $520,000 after acquiring an additional 1,569 shares during the period. Creative Planning grew its stake 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 acquiring an additional 1,632 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Bilibili by 10.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the company’s stock worth $272,000 after acquiring an additional 1,650 shares during the period. Finally, Profund Advisors LLC raised its stake in Bilibili by 5.7% in the 2nd quarter. Profund Advisors LLC now owns 41,806 shares of the company’s stock worth $645,000 after purchasing an additional 2,257 shares in the last quarter. Institutional investors and hedge funds own 16.08% of the company’s stock.

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.