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

Key Points

• Bilibili's share price gapped up from $22.56 to $23.57 prior to trading, ultimately closing at $24.27 with a trading volume of over 2.3 million shares.
• Analysts have generally rated Bilibili positively, with price target increases from firms like Barclays and Bank of America; the stock currently has an average target price of $24.91 and a "Moderate Buy" rating.
• Institutional investors hold 16.08% of Bilibili's shares, with notable increases in holdings from various hedge funds, indicating growing interest in the company.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $22.56, but opened at $23.57. Bilibili shares last traded at $24.27, with a volume of 2,357,065 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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. Bank of America raised their price target on shares of Bilibili from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. HSBC reaffirmed a "buy" rating on shares of Bilibili in a research report on Tuesday, July 15th. Jefferies Financial Group set a $28.00 price target on shares of Bilibili in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Bilibili from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Two investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.91.

Bilibili Stock Up 4.1%

The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 363.57 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 1.60. The business has a 50-day moving average of $23.40 and a 200-day moving average of $20.57.

Hedge Funds Weigh In On Bilibili

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Bilibili by 7.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,970 shares of the company's stock worth $214,000 after purchasing an additional 709 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Bilibili by 0.7% during the second quarter. Geode Capital Management LLC now owns 103,666 shares of the company's stock worth $2,224,000 after buying an additional 713 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Bilibili by 16.6% in the first quarter. Advisors Asset Management Inc. now owns 5,280 shares of the company's stock valued at $101,000 after purchasing an additional 751 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Bilibili by 1.2% in the first quarter. Royal Bank of Canada now owns 87,505 shares of the company's stock valued at $1,672,000 after buying an additional 1,014 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Bilibili by 25.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,295 shares of the company's stock worth $114,000 after purchasing an additional 1,081 shares during the last quarter. Hedge funds and other institutional investors 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.