Short Interest in Bilibili Inc. (NASDAQ:BILI) Drops By 21.3%

Bilibili Inc. (NASDAQ:BILI) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 17,900,000 shares, a drop of 21.3% from the October 15th total of 22,750,000 shares. Based on an average daily trading volume, of 7,850,000 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

BILI has been the subject of several recent research reports. Morgan Stanley began coverage on Bilibili in a research report on Wednesday, September 25th. They issued an “equal weight” rating and a $20.00 price objective for the company. Bank of America upped their price target on shares of Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a report on Friday, October 25th. Nomura Securities raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Benchmark increased their target price on shares of Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein boosted their price target on Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.24.

Hedge Funds Weigh In On Bilibili

Several large investors have recently made changes to their positions in BILI. Janney Montgomery Scott LLC purchased a new position in shares of Bilibili in the 1st quarter worth about $951,000. Acadian Asset Management LLC bought a new position in shares of Bilibili in the first quarter worth approximately $408,000. Natixis purchased a new stake in shares of Bilibili during the first quarter valued at approximately $537,000. OLD Mission Capital LLC bought a new stake in shares of Bilibili during the first quarter valued at approximately $14,849,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Bilibili during the first quarter valued at approximately $456,000. 16.08% of the stock is currently owned by hedge funds and other institutional investors.

Bilibili Stock Performance

Shares of NASDAQ BILI traded down $0.29 during mid-day trading on Friday, hitting $18.30. 7,703,189 shares of the stock traded hands, compared to its average volume of 7,222,349. The stock has a fifty day moving average price of $20.57 and a 200-day moving average price of $16.95. The company has a market cap of $7.58 billion, a price-to-earnings ratio of -13.66 and a beta of 0.86. Bilibili has a 52 week low of $8.80 and a 52 week high of $31.77.

Bilibili (NASDAQ:BILI) last released its earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share 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 during the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the company earned ($0.43) earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Bilibili will post -0.32 EPS for the current fiscal year.

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.