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

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

Wall Street Analysts Forecast Growth

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

Bilibili Trading Up 3.5 %

The company’s 50 day simple moving average is $17.74 and its 200-day simple moving average is $15.63. The firm has a market cap of $8.32 billion, a P/E ratio of -12.07 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the company earned ($0.43) EPS. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts anticipate that Bilibili Inc. will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Bilibili

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in Bilibili in the second quarter valued at about $29,336,000. OLD Mission Capital LLC purchased a new stake in shares of Bilibili during the 1st quarter valued at about $14,849,000. Cubist Systematic Strategies LLC increased its position in shares of Bilibili by 385.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock valued at $15,162,000 after purchasing an additional 779,614 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Bilibili in the 2nd quarter worth approximately $11,490,000. Finally, SIH Partners LLLP boosted its holdings in shares of Bilibili by 145.9% in 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 last quarter. 16.08% of the stock is currently owned by hedge funds and other 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.