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

Shares of Bilibili Inc. (NASDAQ:BILI) gapped down before the market opened on Tuesday . The stock had previously closed at $22.75, but opened at $21.59. Bilibili shares last traded at $21.44, with a volume of 1,117,911 shares.

Analysts Set New Price Targets

BILI has been the topic of a number of research analyst reports. Nomura Securities upgraded Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Bank of America lifted their price target on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. Daiwa Capital Markets raised Bilibili from a “neutral” rating to a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group raised shares of 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 report on Thursday, September 26th. Finally, Morgan Stanley initiated coverage on shares of Bilibili in a research note on Wednesday, September 25th. They set an “equal weight” rating and a $20.00 price target for the company. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.51.

Bilibili Price Performance

The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of -15.87 and a beta of 0.86. The business’s 50 day moving average price is $20.50 and its 200-day moving average price is $16.94.

Bilibili (NASDAQ:BILI) last issued its earnings results 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). Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The business had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period last year, the company posted ($0.43) earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. As a group, analysts expect that Bilibili Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of Bilibili

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SIH Partners LLLP lifted its position in shares of Bilibili by 145.9% during the 2nd quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after acquiring an additional 709,200 shares during the period. Natixis purchased a new stake in Bilibili during the first quarter worth $537,000. Janney Montgomery Scott LLC purchased a new stake in Bilibili during the first quarter worth $951,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Bilibili in the second quarter valued at $7,799,000. Finally, Swedbank AB purchased a new position in shares of Bilibili in the first quarter valued at $645,000. Institutional investors and hedge funds own 16.08% of the company’s stock.

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.