Bilibili (NASDAQ:BILI) Shares Gap Up - Here's What Happened

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $20.88, but opened at $22.14. Bilibili shares last traded at $22.34, with a volume of 971,741 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of Bilibili to a "strong-buy" rating in a report on Wednesday, May 21st. Sanford C. Bernstein started coverage on shares of Bilibili in a report on Tuesday. They set an "outperform" rating and a $28.00 price target for the company. Wall Street Zen raised shares of Bilibili from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, HSBC upgraded shares of Bilibili from a "hold" rating to a "buy" rating and boosted their target price for the company from $21.50 to $22.50 in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Bilibili currently has a consensus rating of "Buy" and a consensus price target of $23.29.

Bilibili Stock Performance

The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of -112.84 and a beta of 0.91. The stock has a 50-day simple moving average of $19.40 and a 200-day simple moving average of $18.86. 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 Trading of Bilibili

Institutional investors and hedge funds have recently modified their holdings of the business. SVB Wealth LLC acquired a new stake in shares of Bilibili in the first quarter valued at approximately $31,000. FNY Investment Advisers LLC purchased a new position in shares of Bilibili in the first quarter worth approximately $57,000. Federated Hermes Inc. purchased a new position in shares of Bilibili during the fourth quarter valued at $55,000. Brooklyn Investment Group boosted its holdings in Bilibili by 10,989.7% in 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 in the first quarter valued at $80,000. 16.08% of the stock is owned by institutional investors and hedge funds.

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.