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

Shares of Bilibili Inc. (NASDAQ:BILI) gapped down before the market opened on Wednesday . The stock had previously closed at $23.04, but opened at $22.03. Bilibili shares last traded at $22.45, with a volume of 3,215,292 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BILI shares. Daiwa America downgraded shares of Bilibili from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Daiwa Capital Markets downgraded Bilibili from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 3rd. Bank of America lifted their target price on Bilibili from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays raised Bilibili from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $19.00 in a report on Friday, August 23rd. Finally, Morgan Stanley initiated coverage on Bilibili in a research report on Wednesday, September 25th. They issued an “equal weight” rating and a $20.00 price target for the company. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bilibili currently has an average rating of “Moderate Buy” and a consensus price target of $17.83.

Bilibili Trading Down 2.5 %

The firm’s fifty day moving average price is $17.05 and its 200 day moving average price is $15.22. The firm has a market capitalization of $9.26 billion, a PE ratio of -13.42 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last posted its quarterly 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). The firm had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business earned ($0.43) earnings per share. As a group, research analysts expect that Bilibili Inc. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Bilibili

A number of large investors have recently bought and sold shares of the business. SIH Partners LLLP lifted its holdings in Bilibili by 145.9% in the 2nd quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock worth $18,457,000 after purchasing an additional 709,200 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Bilibili by 62.6% during the 1st quarter. BNP Paribas Financial Markets now owns 310,999 shares of the company’s stock worth $3,483,000 after acquiring an additional 119,747 shares during the last quarter. Natixis bought a new stake in Bilibili during the first quarter valued at about $537,000. Janney Montgomery Scott LLC bought a new position in shares of Bilibili in the first quarter worth about $951,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Bilibili during the 1st quarter worth about $460,000. 16.08% of the stock is currently owned by institutional investors.

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.