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

Bilibili Inc. (NASDAQ:BILI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $22.75, but opened at $21.59. Bilibili shares last traded at $21.44, with a volume of 1,117,911 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Nomura Securities upgraded shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Mizuho upped their target price on Bilibili from $17.00 to $21.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America lifted their price target on Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a research note on Friday, October 25th. Sanford C. Bernstein boosted their target price on Bilibili from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Finally, Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Bilibili presently has a consensus rating of “Moderate Buy” and an average price target of $18.51.

Bilibili Stock Down 7.3 %

The company has a 50-day moving average of $20.25 and a 200 day moving average of $16.85. The firm has a market capitalization of $8.74 billion, a PE ratio of -15.78 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last released its quarterly earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.55). The firm had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bilibili had a negative net margin of 16.71% and a negative return on equity of 22.44%. Bilibili’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.43) earnings per share. As a group, equities analysts anticipate that Bilibili Inc. will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in 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 buying an additional 891 shares in the last quarter. CWM LLC increased its stake in Bilibili by 61.9% during the second quarter. CWM LLC now owns 2,232 shares of the company’s stock valued at $34,000 after purchasing an additional 853 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Bilibili during the third quarter worth about $63,000. Assetmark Inc. acquired a new stake in Bilibili in the 3rd quarter valued at about $159,000. Finally, Signaturefd LLC lifted its stake in Bilibili by 6.5% during the third quarter. Signaturefd LLC now owns 9,731 shares of the company’s stock valued at $228,000 after buying an additional 598 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.