Bilibili (NASDAQ:BILI) Trading Down 3.8% - Here's What Happened

Key Points

• Bilibili Inc. (NASDAQ:BILI) shares fell by 3.8%, trading at $23.80, with a significant drop in trading volume to 2.4 million shares, compared to an average of 4.78 million.
• Several research firms have upgraded their ratings for Bilibili, with Barclays setting a price target of $28.00 and Bank of America raising theirs to $27.00.
• Institutional investors have shown increased interest, with hedge funds such as SVB Wealth LLC and FNY Investment Advisers LLC purchasing new stakes in Bilibili during the first quarter of the year.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report) shares fell 3.8% on Thursday . The company traded as low as $23.84 and last traded at $23.80. 2,446,677 shares were traded during trading, a decline of 49% from the average session volume of 4,782,375 shares. The stock had previously closed at $24.75.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BILI. Sanford C. Bernstein began coverage on shares of Bilibili in a research report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 price target on the stock. Bank of America raised their price target on shares of Bilibili from $25.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered shares of Bilibili from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $21.00 to $24.00 in a research report on Monday, July 28th. Barclays lifted their price objective on shares of Bilibili from $25.00 to $28.00 and gave the stock an "overweight" rating in a research report on Friday, August 22nd. Finally, Wall Street Zen raised 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, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.91.

Bilibili Trading Down 2.4%

The firm's 50 day moving average is $23.24 and its 200 day moving average is $20.52. The company has a market cap of $10.10 billion, a PE ratio of 345.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.60 and a quick ratio of 1.60.

Institutional Investors Weigh In On Bilibili

Hedge funds have recently made changes to their positions in the business. SVB Wealth LLC bought a new stake in shares of Bilibili in the 1st quarter worth approximately $31,000. FNY Investment Advisers LLC bought a new stake in Bilibili during the 1st quarter valued at $57,000. Brooklyn Investment Group raised its holdings in Bilibili by 10,989.7% during the 1st quarter. Brooklyn Investment Group now owns 3,216 shares of the company's stock valued at $61,000 after buying an additional 3,187 shares during the last quarter. Banque Transatlantique SA bought a new stake in Bilibili during the 1st quarter valued at $80,000. Finally, Advisors Asset Management Inc. raised its holdings in Bilibili by 16.6% during the 1st quarter. Advisors Asset Management Inc. now owns 5,280 shares of the company's stock valued at $101,000 after buying an additional 751 shares during the last quarter. 16.08% of the stock is currently owned by 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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