Bilibili (NASDAQ:BILI) Shares Gap Down – Time to Sell?

Bilibili Inc. (NASDAQ:BILI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $17.05, but opened at $16.63. Bilibili shares last traded at $16.47, with a volume of 954,821 shares traded.

Analysts Set New Price Targets

BILI has been the subject of a number of recent research reports. The Goldman Sachs Group raised Bilibili from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.50 to $22.60 in a research note on Thursday, September 26th. Bank of America lifted their target price on shares of Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. Mizuho raised their price target on shares of Bilibili from $17.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Daiwa America raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Barclays increased their price objective on Bilibili from $19.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Three equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Bilibili Price Performance

The company has a market cap of $6.79 billion, a PE ratio of -17.80 and a beta of 0.81. The business’s 50 day moving average is $18.71 and its 200-day moving average is $18.14.

Bilibili (NASDAQ:BILI) last released 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. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same period in the previous year, the company earned ($0.39) EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, sell-side analysts predict that Bilibili Inc. will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Bilibili

Several hedge funds and other institutional investors have recently made changes to their positions in BILI. First Beijing Investment Ltd increased its stake in Bilibili by 96.2% in 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 last quarter. BNP Paribas Financial Markets grew its position in shares of Bilibili by 422.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,256,058 shares of the company’s stock valued at $52,747,000 after buying an additional 1,823,829 shares during the last quarter. Quarry LP acquired a new stake in Bilibili during the 2nd quarter worth $29,336,000. Jennison Associates LLC lifted its position in Bilibili by 208.4% in the third quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock valued at $42,260,000 after acquiring an additional 1,221,433 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Bilibili by 14,710.1% in the third quarter. Two Sigma Advisers LP now owns 1,762,400 shares of the company’s stock valued at $41,205,000 after acquiring an additional 1,750,500 shares in the last quarter. 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.