Bilibili (NASDAQ:BILI) Shares Gap Down – Time to Sell?

Shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI) gapped down prior to trading on Thursday . The stock had previously closed at $17.31, but opened at $16.61. Bilibili shares last traded at $16.6360, with a volume of 704,505 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Macquarie Infrastructure reissued an “outperform” rating and set a $30.00 target price on shares of Bilibili in a research note on Tuesday, May 19th. Weiss Ratings lowered Bilibili from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, June 8th. Benchmark reissued a “buy” rating on shares of Bilibili in a research report on Wednesday, May 20th. Finally, Wall Street Zen lowered shares of Bilibili from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Bilibili presently has an average rating of “Moderate Buy” and a consensus price target of $30.78.

Bilibili Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 36.91 and a beta of 0.72. The stock has a 50-day moving average price of $17.72 and a 200 day moving average price of $21.89.

Institutional Investors Weigh In On Bilibili

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of Bilibili by 1.2% in the first quarter. Royal Bank of Canada now owns 87,505 shares of the company’s stock valued at $1,672,000 after buying an additional 1,014 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Bilibili by 0.7% in the second quarter. Geode Capital Management LLC now owns 103,666 shares of the company’s stock valued at $2,224,000 after acquiring an additional 713 shares during the period. Cetera Investment Advisers acquired a new stake in Bilibili in the second quarter valued at $398,000. JPMorgan Chase & Co. boosted its position in shares of Bilibili by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,295 shares of the company’s stock worth $114,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Bilibili during the 2nd quarter worth $244,000. 16.08% of the stock is owned by institutional investors and hedge funds.

Bilibili Company Profile

Bilibili (NASDAQ: BILI) is a leading Chinese online entertainment platform renowned for its focus on animation, comics and games (ACG) content. The company operates a video-sharing website where users can view, upload and comment on a wide range of content, from full-length anime episodes to user-generated short videos. In addition to on-demand streaming, Bilibili offers live broadcasting services that connect creators with fans through real-time interaction features such as “bullet comments” that flow across the screen.

Beyond its core video community, Bilibili generates revenue through multiple value-added services.