Bilibili (NASDAQ:BILI) Stock Price Down 3.2% – Should You Sell?

Bilibili Inc. (NASDAQ:BILI)’s share price dropped 3.2% on Friday . The company traded as low as $19.51 and last traded at $19.61. Approximately 911,352 shares traded hands during trading, a decline of 87% from the average daily volume of 7,108,310 shares. The stock had previously closed at $20.25.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BILI. Sanford C. Bernstein lifted their price objective on shares of Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Daiwa America raised Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Bank of America boosted their target price on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group raised shares of Bilibili from a “neutral” rating to a “buy” rating and lifted their price target for the company from $16.50 to $22.60 in a research report on Thursday, September 26th. Finally, Nomura Securities raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Bilibili currently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Bilibili Stock Down 3.4 %

The company’s fifty day simple moving average is $20.88 and its 200-day simple moving average is $17.60.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results on Thursday, November 14th. The company reported $0.57 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 firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.14 billion. During the same quarter last year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Bilibili Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Bilibili by 61.9% during the 2nd quarter. CWM LLC now owns 2,232 shares of the company’s stock worth $34,000 after purchasing an additional 853 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Bilibili by 4.9% in the second quarter. SG Americas Securities LLC now owns 33,711 shares of the company’s stock valued at $520,000 after acquiring an additional 1,569 shares during the last quarter. Swedbank AB raised its stake in shares of Bilibili by 5.2% in the second quarter. Swedbank AB now owns 60,590 shares of the company’s stock valued at $936,000 after acquiring an additional 2,990 shares during the last quarter. Yong Rong HK Asset Management Ltd boosted its holdings in shares of Bilibili by 33.3% in the 2nd quarter. Yong Rong HK Asset Management Ltd now owns 400,000 shares of the company’s stock worth $6,176,000 after acquiring an additional 100,000 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in Bilibili during the 2nd quarter worth approximately $3,115,000. 16.08% of the stock is 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.