Bilibili (NASDAQ:BILI) Shares Gap Up - Time to Buy?

Bilibili Inc. (NASDAQ:BILI - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $19.45, but opened at $21.00. Bilibili shares last traded at $20.96, with a volume of 3,400,743 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BILI shares. Nomura Securities downgraded Bilibili from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 25th. Benchmark raised their price target on shares of Bilibili from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Barclays lifted their price objective on shares of Bilibili from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, February 21st. HSBC upgraded shares of Bilibili from a "hold" rating to a "buy" rating and increased their target price for the stock from $21.50 to $22.50 in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Bilibili from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Bilibili currently has a consensus rating of "Moderate Buy" and an average target price of $21.56.

Bilibili Trading Down 1.5%

The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $8.64 billion, a P/E ratio of -46.09 and a beta of 0.89. The firm's 50-day moving average price is $17.71 and its 200 day moving average price is $18.69.

Institutional Investors Weigh In On Bilibili

A number of hedge funds have recently made changes to their positions in BILI. Russell Investments Group Ltd. purchased a new stake in Bilibili in the first quarter worth $26,725,000. Federated Hermes Inc. grew 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 worth $25,731,000 after acquiring an additional 1,343,423 shares during the period. Jump Financial LLC purchased a new stake in Bilibili in the 4th quarter worth about $11,584,000. XY Capital Ltd purchased a new stake in Bilibili in the 1st quarter worth about $11,409,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Bilibili by 3,328.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 608,514 shares of the company's stock valued at $11,020,000 after acquiring an additional 590,763 shares during the period. 16.08% of the stock is currently owned by institutional investors.

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.