Bilibili (NASDAQ:BILI) Shares Gap Up – Still a Buy?

Shares of Bilibili Inc. (NASDAQ:BILI) gapped up prior to trading on Tuesday . The stock had previously closed at $22.00, but opened at $23.08. Bilibili shares last traded at $23.25, with a volume of 1,323,605 shares traded.

Analyst Upgrades and Downgrades

BILI has been the topic of a number of recent research reports. Bank of America increased their price objective on Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a research report on Friday, October 25th. Nomura Securities upgraded Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Barclays raised Bilibili from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $19.00 in a report on Friday, August 23rd. Daiwa Capital Markets downgraded shares of Bilibili from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 3rd. Finally, Nomura upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.15.

Bilibili Trading Down 4.6 %

The company has a market capitalization of $9.18 billion, a P/E ratio of -16.54 and a beta of 0.86. The business has a 50 day moving average price of $19.72 and a 200 day moving average price of $16.59.

Bilibili (NASDAQ:BILI) last posted its earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share 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 firm had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same quarter last year, the business posted ($0.43) earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts forecast that Bilibili Inc. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Bilibili

A number of hedge funds have recently modified their holdings of BILI. First Beijing Investment Ltd grew its position in shares of Bilibili by 96.2% in the 3rd quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock valued at $88,694,000 after purchasing an additional 1,860,496 shares during the period. Quarry LP bought a new position in Bilibili during the 2nd quarter worth about $29,336,000. OLD Mission Capital LLC acquired a new stake in shares of Bilibili in the 1st quarter valued at about $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. Finally, 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. 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.