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

Key Points

• Bilibili's stock gapped up from a previous close of $27.33 to open at $28.80, with the last trading price at $28.65.
• Analysts have a consensus rating of "Buy" for Bilibili, with target prices ranging from $25.00 to $30.00.
• Institutional investors have increased their stake in Bilibili substantially, with notable purchases by Federated Hermes Inc. and others in recent quarters.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $27.33, but opened at $28.80. Bilibili shares last traded at $28.65, with a volume of 1,417,287 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BILI shares. Sanford C. Bernstein assumed coverage on shares of Bilibili in a report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price objective for the company. Barclays lifted their target price on Bilibili from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Benchmark lowered their price objective on Bilibili from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. Bank of America lifted their price objective on Bilibili from $25.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Bilibili from a "hold" rating to a "buy" rating in a research report on Saturday, August 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $25.81.

Bilibili Price 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's 50-day simple moving average is $24.22 and its 200-day simple moving average is $20.98. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 403.53 and a beta of 0.94.

Institutional Trading of Bilibili

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in Bilibili during the 1st quarter valued at $26,725,000. Federated Hermes Inc. increased its stake in shares of Bilibili by 44,249.8% during the first 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 during the period. XY Capital Ltd purchased a new position in Bilibili during the first quarter valued at approximately $11,409,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Bilibili in the second quarter valued at about $6,819,000. Finally, Man Group plc grew its position in shares of Bilibili by 21.9% in the 2nd quarter. Man Group plc now owns 1,460,147 shares of the company's stock worth $31,320,000 after buying an additional 262,554 shares during the last quarter. Institutional investors and hedge funds own 16.08% of the company's stock.

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.

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