Bilibili (NASDAQ:BILI) Shares Gap Down to $11.74

Bilibili Inc. (NASDAQ:BILI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.74, but opened at $11.13. Bilibili shares last traded at $11.50, with a volume of 8,235,947 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BILI. Mizuho cut their price objective on shares of Bilibili from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. Citigroup downgraded Bilibili from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $12.50 in a report on Monday, March 11th. Daiwa Capital Markets downgraded shares of Bilibili from a “buy” rating to a “neutral” rating in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. upgraded Bilibili from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $11.00 in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.26.

Bilibili Price Performance

The business’s 50 day moving average is $10.99 and its 200-day moving average is $11.68.

Bilibili (NASDAQ:BILI) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $881.13 million for the quarter, compared to the consensus estimate of $891.61 million. Bilibili had a negative return on equity of 28.12% and a negative net margin of 21.34%. On average, equities analysts anticipate that Bilibili Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Bilibili

Several hedge funds and other institutional investors have recently bought and sold shares of BILI. Artisan Partners Limited Partnership lifted its stake in shares of Bilibili by 3.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,790,190 shares of the company’s stock valued at $52,191,000 after purchasing an additional 143,881 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Bilibili by 30.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 687,069 shares of the company’s stock valued at $9,461,000 after buying an additional 161,396 shares during the period. Harvest Fund Management Co. Ltd increased its position in Bilibili by 71.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 288,649 shares of the company’s stock valued at $3,972,000 after buying an additional 120,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bilibili during the 3rd quarter worth approximately $3,043,000. Finally, Trexquant Investment LP bought a new stake in shares of Bilibili during the fourth quarter valued at approximately $2,167,000. Institutional investors and hedge funds own 16.08% of the company’s stock.

About Bilibili

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.