Bilibili (NASDAQ:BILI) Shares Down 8.8% – Here’s What Happened

Bilibili Inc. (NASDAQ:BILI) shares traded down 8.8% during mid-day trading on Tuesday . The stock traded as low as $20.10 and last traded at $20.05. 3,492,512 shares changed hands during trading, a decline of 40% from the average session volume of 5,809,630 shares. The stock had previously closed at $21.99.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BILI. Bank of America increased their target price on shares of Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a report on Friday, October 25th. Daiwa America raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Benchmark lifted their target price on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho increased their price target on shares of Bilibili from $17.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Daiwa Capital Markets upgraded Bilibili from a “neutral” rating to a “buy” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.69.

Bilibili Price Performance

The company has a market cap of $9.16 billion, a price-to-earnings ratio of -24.03 and a beta of 0.81. The business’s 50-day simple moving average is $18.21 and its 200-day simple moving average is $18.53.

Bilibili (NASDAQ:BILI) last released its earnings results on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. As a group, sell-side analysts forecast that Bilibili Inc. will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Bilibili

Several large investors have recently made changes to their positions in BILI. Blue Trust Inc. lifted its stake in shares of Bilibili by 227.3% during the third quarter. Blue Trust Inc. now owns 1,283 shares of the company’s stock worth $30,000 after purchasing an additional 891 shares in the last quarter. Signaturefd LLC lifted its position in Bilibili by 6.5% during the 3rd quarter. Signaturefd LLC now owns 9,731 shares of the company’s stock worth $228,000 after acquiring an additional 598 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Bilibili in the 3rd quarter worth approximately $9,570,000. US Bancorp DE grew its position in Bilibili by 882.4% in the third quarter. US Bancorp DE now owns 70,999 shares of the company’s stock valued at $1,660,000 after acquiring an additional 63,772 shares in the last quarter. Finally, First Beijing Investment Ltd raised its stake in shares of Bilibili by 96.2% during the third quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock valued at $88,694,000 after purchasing an additional 1,860,496 shares during the period. Institutional investors and hedge funds own 16.08% of the company’s stock.

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.