Bilibili (NASDAQ:BILI) Sees Unusually-High Trading Volume – Time to Buy?

Bilibili Inc. (NASDAQ:BILI) shares saw strong trading volume on Thursday . 4,680,653 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 7,164,872 shares.The stock last traded at $18.51 and had previously closed at $21.27.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BILI shares. Bank of America boosted their price target on shares of Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a report on Friday, October 25th. Mizuho upped their price objective on Bilibili from $17.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday. Benchmark raised their target price on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Daiwa America raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein increased their target price 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. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.24.

Bilibili Price Performance

The firm’s 50 day moving average price is $20.57 and its two-hundred day moving average price is $16.95. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of -13.66 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last released its earnings results on Thursday, August 22nd. The company reported ($0.65) EPS 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) EPS. The firm’s revenue was up 15.5% on a year-over-year basis. On average, analysts anticipate that Bilibili Inc. will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Bilibili

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Beijing Investment Ltd increased its holdings in Bilibili by 96.2% during 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 raised its position 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 purchasing an additional 1,823,829 shares during the last quarter. Quarry LP purchased a new stake in Bilibili in the 2nd quarter valued at approximately $29,336,000. Jennison Associates LLC lifted its stake in Bilibili by 208.4% in the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock valued at $42,260,000 after buying an additional 1,221,433 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position 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 buying an additional 1,750,500 shares in the last quarter. 16.08% of the stock is currently owned by hedge funds and other 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.