Bilibili (NASDAQ:BILI) Shares Gap Down – What’s Next?

Bilibili Inc. (NASDAQ:BILI) shares gapped down before the market opened on Friday . The stock had previously closed at $18.83, but opened at $18.27. Bilibili shares last traded at $18.08, with a volume of 868,201 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BILI. Barclays raised their price target on Bilibili from $19.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Morgan Stanley initiated coverage on shares of Bilibili in a research note on Wednesday, September 25th. They issued an “equal weight” rating and a $20.00 target price on the stock. Nomura raised 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. Sanford C. Bernstein increased their target price on Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Finally, Bank of America boosted their target price on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.69.

Bilibili Trading Down 3.2 %

The firm has a market capitalization of $7.55 billion, a P/E ratio of -19.82 and a beta of 0.86. The business has a 50 day moving average of $20.99 and a 200-day moving average of $17.15.

Bilibili (NASDAQ:BILI) last issued its quarterly earnings data on Thursday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.47. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.14 billion. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.39) earnings per share. On average, analysts anticipate that Bilibili Inc. will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. First Beijing Investment Ltd lifted its stake in 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 acquiring an additional 1,860,496 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Bilibili by 422.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,256,058 shares of the company’s stock worth $52,747,000 after acquiring an additional 1,823,829 shares in the last quarter. Quarry LP acquired a new stake in shares of Bilibili in the second quarter valued at approximately $29,336,000. Jennison Associates LLC lifted its position in shares of Bilibili by 208.4% in the third quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after purchasing an additional 1,221,433 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Bilibili by 14,710.1% during the third quarter. Two Sigma Advisers LP now owns 1,762,400 shares of the company’s stock worth $41,205,000 after purchasing an additional 1,750,500 shares during the last quarter. 16.08% of the stock is owned by institutional investors and hedge funds.

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.