Bilibili (NASDAQ:BILI) Shares Gap Down - Here's Why

Bilibili Inc. (NASDAQ:BILI - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $19.07, but opened at $18.49. Bilibili shares last traded at $18.18, with a volume of 473,216 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on BILI shares. Barclays lifted their price target on Bilibili from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Nomura Securities lowered Bilibili from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Wall Street Zen raised Bilibili from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Hsbc Global Res raised Bilibili to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, HSBC raised Bilibili from a "hold" rating to a "buy" rating and lifted their price objective for the company from $21.50 to $22.50 in a research note on Wednesday, May 21st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bilibili currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.56.

Bilibili Stock Performance

The stock has a market cap of $7.69 billion, a PE ratio of -41.02 and a beta of 0.93. The stock has a fifty day simple moving average of $17.69 and a two-hundred day simple moving average of $18.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.34.

Hedge Funds Weigh In On Bilibili

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC boosted its holdings in Bilibili by 26.4% in the 4th quarter. Jennison Associates LLC now owns 2,285,264 shares of the company's stock worth $41,386,000 after acquiring an additional 477,740 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Bilibili by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,547,057 shares of the company's stock valued at $29,564,000 after buying an additional 42,914 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Bilibili during the 1st quarter valued at approximately $26,725,000. Federated Hermes Inc. boosted its stake in shares of Bilibili by 44,249.8% during the 1st quarter. Federated Hermes Inc. now owns 1,346,459 shares of the company's stock valued at $25,731,000 after buying an additional 1,343,423 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Bilibili by 9.3% during the 4th quarter. Trexquant Investment LP now owns 754,875 shares of the company's stock valued at $13,671,000 after buying an additional 63,960 shares during the last quarter. Hedge funds and other 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.