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

Shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI) gapped down before the market opened on Tuesday . The stock had previously closed at $26.00, but opened at $25.06. Bilibili shares last traded at $25.06, with a volume of 339,108 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on BILI shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bilibili in a report on Wednesday, October 8th. Jefferies Financial Group set a $28.00 price target on shares of Bilibili in a research note on Thursday, August 21st. Sanford C. Bernstein increased their price target on shares of Bilibili from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded Bilibili from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Finally, JPMorgan Chase & Co. upped their target price on Bilibili from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.61.

Bilibili Stock Performance

The stock’s 50-day simple moving average is $27.60 and its 200-day simple moving average is $24.39. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 100.10 and a beta of 0.73. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.54.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BILI. BlueCrest Capital Management Ltd bought a new stake in Bilibili during the third quarter worth about $2,107,000. Laird Norton Wetherby Wealth Management LLC increased its stake in Bilibili by 3.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 22,170 shares of the company’s stock valued at $623,000 after acquiring an additional 718 shares during the last quarter. Bank of America Corp DE raised its position in Bilibili by 41.3% during the third quarter. Bank of America Corp DE now owns 492,122 shares of the company’s stock valued at $13,824,000 after purchasing an additional 143,853 shares in the last quarter. Creative Planning lifted its stake in Bilibili by 8.7% during the third quarter. Creative Planning now owns 19,074 shares of the company’s stock worth $536,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Bilibili by 6.0% in the 3rd quarter. Lazard Asset Management LLC now owns 24,502 shares of the company’s stock valued at $688,000 after purchasing an additional 1,387 shares in the last quarter. Institutional investors 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.