Bilibili (NASDAQ:BILI) Shares Down 3.8% - Should You Sell?

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.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on BILI shares. HSBC reaffirmed a "buy" rating on shares of Bilibili in a report on Tuesday, July 15th. Hsbc Global Res raised Bilibili to a "strong-buy" rating in a report on Wednesday, May 21st. JPMorgan Chase & Co. cut Bilibili from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $21.00 to $24.00 in a report on Monday, July 28th. Bank of America boosted their price target on Bilibili from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Sanford C. Bernstein assumed coverage on Bilibili in a report on Tuesday, July 8th. They issued an "outperform" rating and a $28.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.91.

Bilibili Price Performance

The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 391.29 and a beta of 0.94. The company has a 50 day moving average of $23.49 and a 200 day moving average of $20.61. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.57.

Institutional Investors Weigh In On Bilibili

A number of institutional investors have recently added to or reduced their stakes in BILI. Northern Trust Corp grew its position in Bilibili by 164.2% during the fourth quarter. Northern Trust Corp now owns 235,099 shares of the company's stock valued at $4,258,000 after acquiring an additional 146,111 shares during the period. Lazard Asset Management LLC grew its position in Bilibili by 3,609.4% during the fourth quarter. Lazard Asset Management LLC now owns 88,470 shares of the company's stock valued at $1,602,000 after acquiring an additional 86,085 shares during the period. Nomura Holdings Inc. purchased a new stake in Bilibili during the fourth quarter valued at about $272,000. Quantinno Capital Management LP grew its position in Bilibili by 37.1% during the fourth quarter. Quantinno Capital Management LP now owns 32,296 shares of the company's stock valued at $585,000 after acquiring an additional 8,739 shares during the period. Finally, Vident Advisory LLC grew its position in Bilibili by 15.1% during the fourth quarter. Vident Advisory LLC now owns 17,226 shares of the company's stock valued at $312,000 after acquiring an additional 2,263 shares during the period. 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.