Bilibili (NASDAQ:BILI) Shares Down 3.2% – Here’s Why

Bilibili Inc. (NASDAQ:BILI)’s stock price was down 3.2% on Friday . The company traded as low as $19.51 and last traded at $19.61. Approximately 911,352 shares changed hands during trading, a decline of 87% from the average daily volume of 7,108,310 shares. The stock had previously closed at $20.25.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays raised their price target on shares of Bilibili from $19.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Sanford C. Bernstein raised their price target on shares of Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Nomura Securities raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Benchmark raised their price target on shares of Bilibili from $16.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Daiwa America raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Bilibili Stock Performance

The firm has a market capitalization of $8.21 billion, a PE ratio of -21.53 and a beta of 0.80. The company’s 50-day moving average price is $20.72 and its 200-day moving average price is $17.66.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results on Thursday, November 14th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.10 by $0.47. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.14 billion. During the same period last year, the business earned ($0.39) EPS. Bilibili’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, analysts anticipate that Bilibili Inc. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Bilibili

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Beijing Investment Ltd raised its stake in Bilibili by 96.2% during the 3rd quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock worth $88,694,000 after acquiring an additional 1,860,496 shares in the last quarter. BNP Paribas Financial Markets raised its stake in 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 Bilibili during the 2nd quarter worth $29,336,000. Jennison Associates LLC raised its stake in Bilibili by 208.4% during the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after acquiring an additional 1,221,433 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Bilibili by 14,710.1% during the 3rd quarter. Two Sigma Advisers LP now owns 1,762,400 shares of the company’s stock worth $41,205,000 after acquiring an additional 1,750,500 shares in the last quarter. 16.08% of the stock is currently 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.