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

Key Points

• Bilibili Inc. (NASDAQ:BILI) experienced a significant gap up in stock price, opening at $29.40 after closing at $27.55, with a trading volume of 1,488,661 shares.
• Analysts have recently shown increased optimism, with Barclays and Jefferies both setting target prices at $28, while Wall Street Zen upgraded the stock to a "buy" rating.
• Several hedge funds have made substantial adjustments to their positions in Bilibili, including Federated Hermes Inc., which dramatically increased its stake by over 44,000% during the first quarter.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $27.55, but opened at $29.40. Bilibili shares last traded at $29.27, with a volume of 1,488,661 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Bilibili from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Friday, August 22nd. Jefferies Financial Group set a $28.00 price objective on Bilibili in a research report on Thursday, August 21st. Wall Street Zen raised Bilibili from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. HSBC reaffirmed a "buy" rating on shares of Bilibili in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut shares of Bilibili from an "overweight" rating to a "neutral" rating and raised their price objective for the company from $21.00 to $24.00 in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $26.95.

Bilibili Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $12.25 billion, a PE ratio of 418.93 and a beta of 0.93. The stock has a 50-day simple moving average of $25.62 and a 200 day simple moving average of $21.82.

Hedge Funds Weigh In On Bilibili

Several hedge funds have recently added to or reduced their stakes in BILI. Mirae Asset Global Investments Co. Ltd. raised its position in Bilibili by 8.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,261 shares of the company's stock worth $178,000 after acquiring an additional 722 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of Bilibili by 87.9% during the 1st quarter. Vontobel Holding Ltd. now owns 35,239 shares of the company's stock worth $673,000 after purchasing an additional 16,482 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Bilibili during the 1st quarter worth approximately $518,000. Ping Capital Management Inc. raised its position in shares of Bilibili by 14.3% during the 1st quarter. Ping Capital Management Inc. now owns 40,000 shares of the company's stock worth $764,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Bilibili by 44,249.8% in the 1st quarter. Federated Hermes Inc. now owns 1,346,459 shares of the company's stock valued at $25,731,000 after buying an additional 1,343,423 shares in the last quarter. 16.08% of the stock is currently owned by hedge funds and other 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.

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