Bilibili (NASDAQ:BILI) Shares Gap Up - Still a Buy?

Key Points

• Bilibili's stock price gapped up from a close of $25.45 to an opening of $26.90 on Monday, with the last traded price at $26.79.
• Wall Street analysts have shown mixed sentiments, with upgrades from several firms, including a "buy" rating from Wall Street Zen, and a downgrade from JPMorgan Chase, adjusting the price target to $24.00.
• Institutional ownership has increased, with hedge funds acquiring significant positions, resulting in 16.08% of Bilibili's stock now owned by institutional investors.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $25.45, but opened at $26.90. Bilibili shares last traded at $26.79, with a volume of 1,480,265 shares.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BILI. Benchmark reduced their price objective on shares of Bilibili from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. HSBC restated a "buy" rating on shares of Bilibili in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Bilibili from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Jefferies Financial Group set a $28.00 target price on Bilibili in a report on Thursday, August 21st. Finally, Bank of America increased their target price on Bilibili from $25.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Bilibili has a consensus rating of "Moderate Buy" and an average target price of $24.91.

Bilibili Trading Up 0.3%

The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 387.86 and a beta of 0.94. The company's 50-day moving average is $23.82 and its 200-day moving average is $20.76. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.57.

Institutional Trading of Bilibili

Several institutional investors have recently added to or reduced their stakes in BILI. Northern Trust Corp grew its stake 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 buying an additional 146,111 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Bilibili in the fourth quarter valued at $272,000. Quantinno Capital Management LP grew its position in Bilibili by 37.1% in the 4th quarter. Quantinno Capital Management LP now owns 32,296 shares of the company's stock valued at $585,000 after acquiring an additional 8,739 shares in the last quarter. Vident Advisory LLC grew its position in Bilibili by 15.1% in the 4th quarter. Vident Advisory LLC now owns 17,226 shares of the company's stock valued at $312,000 after acquiring an additional 2,263 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new position in Bilibili in the 4th quarter valued at about $329,000. Institutional investors and hedge funds 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.