Bilibili (NASDAQ:BILI) Stock Price Down 9.5% - What's Next?

Key Points

• Bilibili's stock price dropped 9.5% to $26.57, with a trading volume of around 4.59 million shares, slightly below its average daily volume.
• Analysts have set mixed price targets for Bilibili, with Barclays raising it to $28.00, while JPMorgan Chase lowered its rating and set a new target at $24.00.
• Recent institutional activity saw significant increases in stakes from several investors, indicating continued interest in Bilibili despite the stock's recent decline.

Shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) dropped 9.5% on Friday . The stock traded as low as $26.53 and last traded at $26.57. Approximately 4,590,865 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 4,642,469 shares. The stock had previously closed at $29.35.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BILI shares. Wall Street Zen raised Bilibili from a "hold" rating to a "buy" rating in a report on Saturday, August 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Bilibili in a research report on Wednesday. Barclays upped their price target on Bilibili from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Jefferies Financial Group set a $28.00 target price on Bilibili in a research report on Thursday, August 21st. Finally, JPMorgan Chase & Co. lowered Bilibili from an "overweight" rating to a "neutral" rating and increased their price target 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, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.81.

Bilibili Price Performance

The stock has a fifty day moving average price of $25.03 and a 200-day moving average price of $21.40. The firm has a market capitalization of $11.10 billion, a PE ratio of 379.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 1.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in Bilibili by 203.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 111,296 shares of the company's stock worth $2,387,000 after buying an additional 74,596 shares during the last quarter. Rakuten Securities Inc. grew its stake in Bilibili by 14.6% during the 2nd quarter. Rakuten Securities Inc. now owns 14,589 shares of the company's stock worth $313,000 after buying an additional 1,864 shares during the last quarter. Moore Capital Management LP purchased a new stake in Bilibili during the 2nd quarter valued at about $443,000. Man Group plc grew its stake in Bilibili by 21.9% during the 2nd quarter. Man Group plc now owns 1,460,147 shares of the company's stock valued at $31,320,000 after purchasing an additional 262,554 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its stake in Bilibili by 21.7% during the 2nd quarter. Boothbay Fund Management LLC now owns 13,800 shares of the company's stock valued at $296,000 after purchasing an additional 2,465 shares during 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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