Bilibili (NASDAQ:BILI) Lowered to Neutral Rating by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has downgraded Bilibili from an "overweight" rating to a "neutral" rating, setting a target price of $24.00 for the stock.
• Bilibili's consensus rating stands at "Moderate Buy", with 9 analysts maintaining a buy rating and 4 giving it a hold rating.
• The stock is currently trading at $23.36, which is close to its twelve-month low of $12.72 and notable as it has a market capitalization of approximately $9.76 billion.

JPMorgan Chase & Co. cut shares of Bilibili (NASDAQ:BILI - Free Report) from an overweight rating to a neutral rating in a report published on Monday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $24.00 price objective on the stock, up from their previous price objective of $21.00.

A number of other brokerages also recently weighed in on BILI. HSBC reaffirmed a "buy" rating on shares of Bilibili in a research report on Tuesday, July 15th. Bank of America lifted their price objective on shares of Bilibili from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded Bilibili from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Sanford C. Bernstein initiated coverage on Bilibili in a research report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price objective for the company. Finally, Hsbc Global Res upgraded Bilibili to a "strong-buy" rating in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bilibili presently has an average rating of "Moderate Buy" and a consensus target price of $23.81.

Bilibili Stock Performance

Shares of NASDAQ:BILI traded up $0.53 during trading on Monday, reaching $22.81. 2,229,278 shares of the company's stock traded hands, compared to its average volume of 5,113,185. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. Bilibili has a 12 month low of $12.72 and a 12 month high of $31.77. The company has a 50 day moving average of $21.11 and a 200-day moving average of $19.46. The stock has a market capitalization of $9.53 billion, a P/E ratio of -113.94 and a beta of 0.91.

Institutional Investors Weigh In On Bilibili

Several hedge funds have recently made changes to their positions in BILI. Vontobel Holding Ltd. grew its holdings in shares of Bilibili by 87.9% during the 1st quarter. Vontobel Holding Ltd. now owns 35,239 shares of the company's stock valued at $673,000 after acquiring an additional 16,482 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Bilibili by 8.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,261 shares of the company's stock valued at $178,000 after acquiring an additional 722 shares in the last quarter. Federated Hermes Inc. bought a new position in Bilibili during the fourth quarter valued at approximately $55,000. Northern Trust Corp raised its position in Bilibili by 164.2% during the fourth quarter. Northern Trust Corp now owns 235,099 shares of the company's stock valued at $4,258,000 after acquiring an additional 146,111 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Bilibili during the fourth quarter valued at approximately $200,000. 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.