Bilibili (NASDAQ:BILI) Shares Down 5% – What’s Next?

Shares of Bilibili Inc. (NASDAQ:BILI) were down 5% during mid-day trading on Tuesday . The company traded as low as $18.69 and last traded at $18.93. Approximately 2,544,811 shares changed hands during trading, a decline of 64% from the average daily volume of 7,048,936 shares. The stock had previously closed at $19.92.

Analyst Ratings Changes

A number of analysts recently issued reports on BILI shares. Bank of America lifted their price objective on Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a research report on Friday, October 25th. Sanford C. Bernstein increased their price objective on shares of Bilibili from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Daiwa Capital Markets upgraded Bilibili from a “neutral” rating to a “buy” rating in a research note on Friday, November 8th. Daiwa America upgraded Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Barclays upped their price target on shares of Bilibili from $19.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.69.

Bilibili Price Performance

The firm has a fifty day simple moving average of $21.41 and a two-hundred day simple moving average of $17.35.

Bilibili (NASDAQ:BILI) last released its quarterly earnings results on Thursday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.47. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.14 billion. During the same period in the prior year, the firm earned ($0.39) earnings per share. Bilibili’s revenue was up 25.8% on a year-over-year basis. As a group, sell-side analysts forecast that Bilibili Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Bilibili

A number of hedge funds have recently modified their holdings of BILI. TD Private Client Wealth LLC bought a new stake in Bilibili during the third quarter worth about $53,000. Barclays PLC grew its stake in shares of Bilibili by 13.5% in the 3rd quarter. Barclays PLC now owns 127,563 shares of the company’s stock worth $2,982,000 after buying an additional 15,136 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Bilibili by 1,064.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 190,275 shares of the company’s stock valued at $4,449,000 after buying an additional 173,941 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in Bilibili in the third quarter worth $1,361,000. Finally, Two Sigma Advisers LP grew its stake in shares of Bilibili by 14,710.1% in the third quarter. Two Sigma Advisers LP now owns 1,762,400 shares of the company’s stock worth $41,205,000 after acquiring an additional 1,750,500 shares during the last quarter. 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.