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

Key Points

• Bilibili's stock price gapped down from $27.24 to $25.80 before opening, with the last traded price at $25.98 and a trading volume of over 1.27 million shares.
• Despite the recent dip, analysts maintain a consensus of "Moderate Buy" on Bilibili, with a target price of $26.95 and ratings ranging from Strong Buy to Hold among research firms.
• Institutional investors are increasing their stakes in Bilibili, with notable increases from firms like Mirae Asset Global Investments and JPMorgan Chase, owning a combined 16.08% of the company's stock.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $27.24, but opened at $25.80. Bilibili shares last traded at $25.98, with a volume of 1,279,665 shares trading hands.

Wall Street Analyst Weigh In

BILI has been the subject of a number of recent research reports. HSBC reiterated a "buy" rating on shares of Bilibili in a research note on Tuesday, July 15th. Jefferies Financial Group set a $28.00 price objective on Bilibili in a report on Thursday, August 21st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bilibili in a report on Wednesday, October 8th. Benchmark decreased their price objective on Bilibili from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Finally, Wall Street Zen raised Bilibili from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.95.

Bilibili Trading Down 1.8%

The firm has a market cap of $11.18 billion, a PE ratio of 382.76 and a beta of 0.93. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.57. The company's 50 day moving average price is $25.22 and its two-hundred day moving average price is $21.53.

Institutional Trading of Bilibili

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Bilibili by 7.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,970 shares of the company's stock worth $214,000 after purchasing an additional 709 shares during the period. Geode Capital Management LLC increased its stake in shares of Bilibili by 0.7% during the second quarter. Geode Capital Management LLC now owns 103,666 shares of the company's stock valued at $2,224,000 after buying an additional 713 shares during the period. Advisors Asset Management Inc. grew its stake in Bilibili by 16.6% in the first quarter. Advisors Asset Management Inc. now owns 5,280 shares of the company's stock valued at $101,000 after purchasing an additional 751 shares during the last quarter. Royal Bank of Canada grew its stake in 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 purchasing an additional 1,014 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Bilibili by 25.7% in the second quarter. JPMorgan Chase & Co. now owns 5,295 shares of the company's stock valued at $114,000 after purchasing an additional 1,081 shares during 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.

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