Bilibili (NASDAQ:BILI) Shares Gap Up to $11.49

Bilibili Inc. (NASDAQ:BILI) gapped up prior to trading on Wednesday . The stock had previously closed at $11.49, but opened at $12.41. Bilibili shares last traded at $12.69, with a volume of 5,964,459 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup downgraded shares of Bilibili from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $12.50 in a research report on Monday, March 11th. Mizuho decreased their target price on Bilibili from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised Bilibili from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $10.00 to $11.00 in a research note on Monday, March 11th. Finally, Daiwa Capital Markets downgraded shares of Bilibili from a “buy” rating to a “neutral” rating in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.26.

Bilibili Stock Performance

The stock has a market cap of $5.26 billion, a PE ratio of -7.65 and a beta of 0.99. The company’s 50-day moving average price is $11.03 and its 200 day moving average price is $11.67.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $881.13 million during the quarter, compared to analyst estimates of $891.61 million. Bilibili had a negative net margin of 21.34% and a negative return on equity of 28.12%. As a group, equities research analysts predict that Bilibili Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bilibili

A number of institutional investors have recently made changes to their positions in BILI. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Bilibili during the third quarter worth $3,043,000. Trexquant Investment LP purchased a new stake in Bilibili during the fourth quarter worth about $2,167,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bilibili by 30.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 687,069 shares of the company’s stock worth $9,461,000 after purchasing an additional 161,396 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Bilibili by 3.9% in the third 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. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Bilibili by 71.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 288,649 shares of the company’s stock valued at $3,972,000 after purchasing an additional 120,000 shares in the last quarter. 16.08% of the stock is currently owned by institutional investors and hedge funds.

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.