Bilibili (NASDAQ:BILI) Shares Gap Up - Here's What Happened

Key Points

• Bilibili shares rose 7.9%, opening at $13.35 versus a prior close of $12.68 and later trading around $13.64 on more than 1 million shares of volume.
• Analyst sentiment remains broadly positive: eight analysts rate the stock a Buy and one rates it Hold, producing a consensus rating of “Moderate Buy” and an average price target of $29.39.
• Institutional ownership stands at 16.08%, with several hedge funds and investment firms increasing their positions during the third quarter, including Quadrant Capital Group, which raised its holdings by 222.5%.

Bilibili Inc. Sponsored ADR (NASDAQ:BILI - Get Free Report)'s share price gapped up before the market opened on Monday. The stock had previously closed at $12.68, but opened at $13.35. Bilibili shares last traded at $13.6440, with a volume of 1,055,193 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BILI. BNP Paribas Exane started coverage on Bilibili in a research note on Tuesday, September 22nd. They issued an "outperform" rating and a $23.00 price target on the stock. Benchmark restated a "buy" rating on shares of Bilibili in a research report on Friday, August 28th. Citigroup lowered their target price on shares of Bilibili from $27.00 to $26.50 and set a "buy" rating on the stock in a research report on Wednesday, October 14th. Piper Sandler set a $29.00 price target on Bilibili in a research note on Friday, August 28th. Finally, Weiss Ratings cut Bilibili from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, October 14th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.39.

Bilibili Stock Up 7.9%

The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 1.15 and a beta of 0.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.32 and a quick ratio of 1.32. The firm's 50-day moving average is $14.94 and its 200 day moving average is $20.83.

Bilibili (NASDAQ:BILI - Get Free Report) last posted its quarterly earnings results on Saturday, August 15th. The company reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $1.17 billion during the quarter. Bilibili had a return on equity of 11.42% and a net margin of 4.88%. Sell-side analysts anticipate that Bilibili Inc. Sponsored ADR will post 0.60 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BILI. Profund Advisors LLC lifted its holdings in shares of Bilibili by 3.9% in the third quarter. Profund Advisors LLC now owns 40,292 shares of the company's stock valued at $605,000 after buying an additional 1,494 shares during the period. Vise Technologies Inc. bought a new position in Bilibili in the 3rd quarter worth $536,000. SBI Securities Co. Ltd. increased its position in Bilibili by 31.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 16,777 shares of the company's stock worth $252,000 after buying an additional 4,040 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Bilibili by 222.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 113,456 shares of the company's stock worth $1,700,000 after purchasing an additional 78,276 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Bilibili by 53.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,084 shares of the company's stock valued at $31,000 after buying an additional 726 shares during the period. Institutional investors and hedge funds own 16.08% of the company's stock.

About Bilibili

Bilibili Inc is a China-based online entertainment platform focused on video content and communities built around anime, comics, games and broader youth culture. The company offers professionally produced and user-generated videos, with content spanning entertainment, lifestyle, technology, education and other interests.

Its services include video streaming, live broadcasting, mobile games and value-added services such as memberships, virtual items and other interactive features. Bilibili also generates revenue through advertising and related content and e-commerce activities.

Founded in 2009 and headquartered in Shanghai, Bilibili serves users primarily in China through its website and mobile applications.

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