Bilibili (NASDAQ:BILI) Shares Down 6.9% – Here’s Why

Shares of Bilibili Inc. (NASDAQ:BILI) fell 6.9% on Thursday . The company traded as low as $19.02 and last traded at $19.17. 1,939,705 shares were traded during mid-day trading, a decline of 74% from the average session volume of 7,331,606 shares. The stock had previously closed at $20.59.

Analysts Set New Price Targets

BILI has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their target price on Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Daiwa America cut Bilibili from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Barclays raised Bilibili from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $14.00 to $19.00 in a research note on Friday, August 23rd. Nomura upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, August 22nd. Finally, Bank of America upped their price objective on shares of Bilibili from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.83.

Bilibili Price Performance

The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of -11.48 and a beta of 0.86. The stock has a fifty day moving average of $17.52 and a two-hundred day moving average of $15.54.

Bilibili (NASDAQ:BILI) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.55). Bilibili had a negative net margin of 16.71% and a negative return on equity of 22.44%. The company had revenue of $6.13 billion during the quarter, compared to analyst estimates of $6.10 billion. During the same period in the previous year, the company posted ($0.43) EPS. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, research analysts forecast that Bilibili Inc. will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. SIH Partners LLLP increased its position in shares of Bilibili by 145.9% during the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock worth $18,457,000 after buying an additional 709,200 shares during the period. BNP Paribas Financial Markets raised its position in shares of Bilibili by 62.6% in the 1st quarter. BNP Paribas Financial Markets now owns 310,999 shares of the company’s stock worth $3,483,000 after acquiring an additional 119,747 shares in the last quarter. Natixis acquired a new position in shares of Bilibili in the 1st quarter valued at about $537,000. Janney Montgomery Scott LLC bought a new stake in shares of Bilibili during the 1st quarter valued at about $951,000. Finally, GSA Capital Partners LLP acquired a new stake in Bilibili during the first quarter worth approximately $460,000. Institutional investors and hedge funds 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.