Bilibili (NASDAQ:BILI) Shares Gap Up to $11.03

Bilibili Inc. (NASDAQ:BILI) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.03, but opened at $11.28. Bilibili shares last traded at $11.33, with a volume of 783,606 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BILI shares. JPMorgan Chase & Co. upgraded Bilibili from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $11.00 in a report on Monday, March 11th. Mizuho dropped their price objective on Bilibili from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. Citigroup downgraded Bilibili from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.50 in a research note on Monday, March 11th. The Goldman Sachs Group dropped their price target on Bilibili from $17.40 to $15.60 and set a “neutral” rating on the stock in a research note on Thursday, November 30th. Finally, Barclays downgraded Bilibili from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $15.00 to $10.00 in a research note on Thursday, November 30th. 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.26.

Bilibili Price Performance

The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -6.85 and a beta of 0.98. The stock’s fifty day simple moving average is $10.36 and its two-hundred day simple moving average is $11.98.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership grew its position in Bilibili by 3.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,790,190 shares of the company’s stock worth $52,191,000 after purchasing an additional 143,881 shares in the last quarter. Morgan Stanley grew its position in Bilibili by 47.6% during the 3rd quarter. Morgan Stanley now owns 3,174,384 shares of the company’s stock worth $43,711,000 after purchasing an additional 1,023,650 shares in the last quarter. Renaissance Technologies LLC grew its position in Bilibili by 184.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,076,066 shares of the company’s stock worth $48,788,000 after purchasing an additional 1,345,900 shares in the last quarter. First Beijing Investment Ltd purchased a new position in Bilibili during the 2nd quarter worth approximately $29,929,000. Finally, Bridgewater Associates LP grew its position in Bilibili by 48.6% during the 1st quarter. Bridgewater Associates LP now owns 1,099,588 shares of the company’s stock worth $28,127,000 after purchasing an additional 359,842 shares in the last quarter. Institutional investors 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. Its platform offers a range of content, including video services, mobile games, and value-added service, as well as ACG-related comic and audio content. The company's video services include professional user generated videos, occupationally generated videos, live broadcasting, and story mode.