Bilibili (NASDAQ:BILI) Stock Price Down 8%

Bilibili Inc. (NASDAQ:BILI)’s share price traded down 8% during trading on Thursday . The company traded as low as $14.32 and last traded at $14.43. 2,755,076 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 7,345,818 shares. The stock had previously closed at $15.68.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Bilibili from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $11.00 in a research note on Monday, March 11th. Citigroup lowered shares of Bilibili from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $12.50 in a research report on Monday, March 11th. Finally, Mizuho increased their price target on shares of Bilibili from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.37.

Bilibili Price Performance

The stock’s 50-day simple moving average is $12.61 and its two-hundred day simple moving average is $11.80. The firm has a market cap of $5.62 billion, a P/E ratio of -8.97 and a beta of 0.96.

Bilibili (NASDAQ:BILI) last issued 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). Bilibili had a negative return on equity of 28.12% and a negative net margin of 21.34%. The business had revenue of $881.13 million during the quarter, compared to analysts’ expectations of $891.61 million. As a group, sell-side analysts expect that Bilibili Inc. will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. OLD Mission Capital LLC bought a new position in shares of Bilibili during the first quarter valued at approximately $14,849,000. XY Capital Ltd bought a new position in shares of Bilibili in the 1st quarter worth $6,632,000. SIH Partners LLLP lifted its stake in shares of Bilibili by 761.2% during the 1st quarter. SIH Partners LLLP now owns 486,220 shares of the company’s stock worth $5,446,000 after purchasing an additional 429,760 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Bilibili during the first quarter valued at about $3,918,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Bilibili in the third quarter valued at about $3,043,000. 16.08% of the stock is currently owned by institutional investors.

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.