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

Key Points

• Bilibili Inc.'s share price gapped up from $22.86 to $24.25 before opening on Wednesday, with the last trading price at $24.28.
• Analysts' ratings are mixed: HSBC maintains a "buy" rating, while Wall Street Zen downgraded it to "hold", but overall, the consensus rating is a "Moderate Buy" with a target price of $23.81.
• Institutional investors have increased their positions in Bilibili, with 16.08% of the stock now owned by these entities, indicating growing confidence in the company.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $22.86, but opened at $24.25. Bilibili shares last traded at $24.28, with a volume of 943,611 shares.

Wall Street Analyst Weigh In

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

Bilibili Stock Performance

The stock's 50-day moving average is $22.20 and its 200-day moving average is $20.02. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of -126.74 and a beta of 0.94. 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

Large investors have recently modified their holdings of the company. Vontobel Holding Ltd. lifted its stake in shares of Bilibili by 87.9% in the first quarter. Vontobel Holding Ltd. now owns 35,239 shares of the company's stock valued at $673,000 after buying an additional 16,482 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Bilibili by 8.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,261 shares of the company's stock valued at $178,000 after purchasing an additional 722 shares during the period. Federated Hermes Inc. bought a new stake in shares of Bilibili in the fourth quarter valued at approximately $55,000. Northern Trust Corp raised its position in shares of Bilibili by 164.2% in the fourth quarter. Northern Trust Corp now owns 235,099 shares of the company's stock valued at $4,258,000 after purchasing an additional 146,111 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in Bilibili during the fourth quarter valued at approximately $200,000. 16.08% of the stock is currently owned by institutional investors and hedge funds.

Bilibili Company Profile

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.