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

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.

Shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BILI shares. Hsbc Global Res raised Bilibili to a "strong-buy" rating in a research report on Wednesday, May 21st. Wall Street Zen downgraded Bilibili from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Sanford C. Bernstein started coverage on Bilibili in a research report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price target for the company. HSBC reissued a "buy" rating on shares of Bilibili in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. downgraded Bilibili from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $21.00 to $24.00 in a research report on Monday, July 28th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bilibili has an average rating of "Moderate Buy" and a consensus price target of $23.81.

Bilibili Stock Performance

The stock has a 50-day simple moving average of $22.20 and a 200-day simple moving average of $19.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $10.39 billion, a PE ratio of -124.24 and a beta of 0.94.

Institutional Investors Weigh In On Bilibili

Institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in shares of Bilibili during the first quarter worth about $31,000. Federated Hermes Inc. acquired a new position in shares of Bilibili during the fourth quarter worth about $55,000. FNY Investment Advisers LLC acquired a new position in shares of Bilibili during the first quarter worth about $57,000. Brooklyn Investment Group lifted its stake in shares of Bilibili by 10,989.7% during the first quarter. Brooklyn Investment Group now owns 3,216 shares of the company's stock worth $61,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of Bilibili during the first quarter worth about $80,000. 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.