Short Interest in Bilibili Inc. (NASDAQ:BILI) Drops By 21.3%

Bilibili Inc. (NASDAQ:BILI) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 17,900,000 shares, a decline of 21.3% from the October 15th total of 22,750,000 shares. Based on an average daily trading volume, of 7,850,000 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Bilibili

A number of large investors have recently added to or reduced their stakes in the company. First Beijing Investment Ltd boosted its holdings in shares of Bilibili by 96.2% in the 3rd quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock worth $88,694,000 after purchasing an additional 1,860,496 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Bilibili by 422.0% in the third quarter. BNP Paribas Financial Markets now owns 2,256,058 shares of the company’s stock worth $52,747,000 after buying an additional 1,823,829 shares in the last quarter. Quarry LP bought a new position in Bilibili during the second quarter valued at approximately $29,336,000. Jennison Associates LLC grew its position in Bilibili by 208.4% during the third quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock valued at $42,260,000 after acquiring an additional 1,221,433 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Bilibili by 14,710.1% in the 3rd 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. Hedge funds and other institutional investors own 16.08% of the company’s stock.

Bilibili Trading Down 1.6 %

Shares of NASDAQ BILI traded down $0.29 during midday trading on Friday, hitting $18.30. 7,703,189 shares of the company’s stock were exchanged, compared to its average volume of 7,222,349. The business’s fifty day moving average price is $20.57 and its two-hundred day moving average price is $16.95. The company has a market cap of $7.58 billion, a price-to-earnings ratio of -13.66 and a beta of 0.86. Bilibili has a 12-month low of $8.80 and a 12-month high of $31.77.

Bilibili (NASDAQ:BILI) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.55). Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the previous year, the company earned ($0.43) EPS. Bilibili’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts expect that Bilibili will post -0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

BILI has been the topic of several recent research reports. Nomura Securities raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Nomura raised shares of Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, August 22nd. Benchmark increased their target price on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Sanford C. Bernstein boosted their price objective on Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Finally, Daiwa America raised Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Three research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.24.

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.