Bilibili (NASDAQ:BILI) Shares Gap Down - What's Next?

Key Points

• Bilibili Inc. shares gapped down from a previous close of $23.13 to open at $22.47, with the latest trading at $22.44 and a volume of 408,567 shares.
• Analysts have mixed views on the stock, with ratings ranging from "buy" to "hold," and an average target price of $23.81.
• Institutional investors hold 16.08% of Bilibili's stock, with significant recent investments from firms like Federated Hermes.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $23.13, but opened at $22.47. Bilibili shares last traded at $22.44, with a volume of 408,567 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein started coverage on Bilibili in a research note on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price target on the stock. HSBC reiterated a "buy" rating on shares of Bilibili in a research report on Tuesday, July 15th. Bank of America boosted their price objective on shares of Bilibili from $25.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. lowered shares of Bilibili from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $21.00 to $24.00 in a report on Monday, July 28th. Finally, Wall Street Zen cut shares of Bilibili from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $23.81.

Bilibili Price Performance

The stock has a market cap of $9.55 billion, a price-to-earnings ratio of -114.17 and a beta of 0.94. The company has a 50 day simple moving average of $21.75 and a 200-day simple moving average of $19.83. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Bilibili

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of Bilibili during the 1st quarter worth approximately $26,725,000. Federated Hermes Inc. grew its position in Bilibili by 44,249.8% in the first quarter. Federated Hermes Inc. now owns 1,346,459 shares of the company's stock valued at $25,731,000 after purchasing an additional 1,343,423 shares in the last quarter. Jump Financial LLC acquired a new stake in Bilibili in the 4th quarter valued at $11,584,000. XY Capital Ltd bought a new stake in Bilibili during the 1st quarter worth about $11,409,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Bilibili during the 4th quarter worth about $4,186,000. Institutional investors and hedge funds 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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