Bilibili (NASDAQ:BILI) Shares Gap Down to $11.74

Bilibili Inc. (NASDAQ:BILI) gapped down prior to trading on Tuesday . The stock had previously closed at $11.74, but opened at $11.13. Bilibili shares last traded at $11.50, with a volume of 8,235,947 shares.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BILI shares. Mizuho reduced their price target on Bilibili from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. Daiwa Capital Markets downgraded shares of Bilibili from a “buy” rating to a “neutral” rating in a research report on Friday, January 19th. Citigroup cut shares of Bilibili from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $12.50 in a research report on Monday, March 11th. Finally, JPMorgan Chase & Co. upgraded shares of Bilibili from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $11.00 in a research report on Monday, March 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.26.

Bilibili Trading Down 2.6 %

The stock has a 50-day moving average price of $10.99 and a two-hundred day moving average price of $11.68.

Bilibili (NASDAQ:BILI) last released 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). The company had revenue of $881.13 million for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that Bilibili Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Bilibili

Hedge funds have recently modified their holdings of the business. Ronald Blue Trust Inc. grew its holdings in Bilibili by 79.1% in the third quarter. Ronald Blue Trust Inc. now owns 3,347 shares of the company’s stock worth $51,000 after purchasing an additional 1,478 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Bilibili during the fourth quarter worth $55,000. Parallel Advisors LLC increased its position in shares of Bilibili by 62.6% in the fourth quarter. Parallel Advisors LLC now owns 4,503 shares of the company’s stock valued at $55,000 after buying an additional 1,734 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Bilibili by 349.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,703 shares of the company’s stock worth $82,000 after acquiring an additional 5,210 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Bilibili by 29.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,970 shares of the company’s stock valued at $85,000 after purchasing an additional 1,569 shares in the last quarter. Hedge funds and other 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. 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.