Bilibili (NASDAQ:BILI) Shares Down 3.2% – Here’s Why

Bilibili Inc. (NASDAQ:BILI) shares dropped 3.2% on Friday . The stock traded as low as $19.51 and last traded at $19.61. Approximately 911,352 shares traded hands during trading, a decline of 87% from the average daily volume of 7,108,310 shares. The stock had previously closed at $20.25.

Wall Street Analyst Weigh In

BILI has been the subject of several research analyst reports. Benchmark upped their price target on shares of Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Daiwa America upgraded shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Barclays increased their price objective on shares of Bilibili from $19.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, November 18th. The Goldman Sachs Group upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.50 to $22.60 in a report on Thursday, September 26th. Finally, Nomura Securities upgraded shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.69.

Bilibili Trading Down 2.2 %

The stock’s fifty day moving average price is $20.72 and its 200-day moving average price is $17.66. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of -21.53 and a beta of 0.80.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results on Thursday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.47. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.14 billion. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.39) EPS. Analysts predict that Bilibili Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Bilibili

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in shares of Bilibili by 61.9% during the 2nd quarter. CWM LLC now owns 2,232 shares of the company’s stock worth $34,000 after purchasing an additional 853 shares during the period. SG Americas Securities LLC boosted its position in shares of Bilibili by 4.9% during the 2nd quarter. SG Americas Securities LLC now owns 33,711 shares of the company’s stock worth $520,000 after purchasing an additional 1,569 shares during the period. Swedbank AB boosted its position in shares of Bilibili by 5.2% during the 2nd quarter. Swedbank AB now owns 60,590 shares of the company’s stock worth $936,000 after purchasing an additional 2,990 shares during the period. Yong Rong HK Asset Management Ltd boosted its position in shares of Bilibili by 33.3% during the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 400,000 shares of the company’s stock worth $6,176,000 after purchasing an additional 100,000 shares during the period. Finally, National Bank of Canada FI purchased a new position in shares of Bilibili during the 2nd quarter worth approximately $3,115,000. 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.