Bilibili (NASDAQ:BILI) Trading Down 3% - Here's What Happened

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) shares fell 3% during mid-day trading on Wednesday . The stock traded as low as $21.83 and last traded at $21.89. 477,106 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 5,983,276 shares. The stock had previously closed at $22.57.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BILI. HSBC raised Bilibili from a "hold" rating to a "buy" rating and increased their target price for the stock from $21.50 to $22.50 in a research note on Wednesday, May 21st. Hsbc Global Res upgraded Bilibili to a "strong-buy" rating in a report on Wednesday, May 21st. Sanford C. Bernstein assumed coverage on Bilibili in a report on Tuesday. They set an "outperform" rating and a $28.00 target price for the company. Finally, Wall Street Zen raised Bilibili from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $23.29.

Bilibili Stock Down 3.6%

The company's 50 day moving average is $19.40 and its 200 day moving average is $18.86. The company has a market cap of $9.09 billion, a PE ratio of -108.59 and a beta of 0.91. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Bilibili

Several large investors have recently added to or reduced their stakes in BILI. Acadian Asset Management LLC lifted its stake in shares of Bilibili by 43.6% during the first quarter. Acadian Asset Management LLC now owns 60,525 shares of the company's stock valued at $1,156,000 after buying an additional 18,368 shares during the period. Bayforest Capital Ltd increased its holdings in Bilibili by 314.2% during the 1st quarter. Bayforest Capital Ltd now owns 50,610 shares of the company's stock worth $967,000 after purchasing an additional 38,392 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Bilibili in the 1st quarter worth about $778,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Bilibili by 3.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 202,464 shares of the company's stock valued at $3,869,000 after acquiring an additional 7,300 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in Bilibili during the 1st quarter worth $80,000. 16.08% of the stock is 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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