Bilibili (NASDAQ:BILI) Sees Unusually-High Trading Volume Following Better-Than-Expected Earnings

Bilibili Inc. (NASDAQ:BILI - Get Free Report) shares saw strong trading volume on Friday following a better than expected earnings announcement. 6,447,059 shares changed hands during trading, a decline of 6% from the previous session's volume of 6,875,391 shares.The stock last traded at $24.52 and had previously closed at $22.11.

The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. Bilibili had a negative net margin of 5.01% and a negative return on equity of 8.23%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Daiwa America upgraded Bilibili from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Mizuho lifted their price target on shares of Bilibili from $17.00 to $21.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Benchmark increased their price objective on shares of Bilibili from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday. Daiwa Capital Markets raised shares of Bilibili from a "neutral" rating to a "buy" rating in a research report on Friday, November 8th. Finally, Barclays increased their target price on Bilibili from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bilibili has a consensus rating of "Moderate Buy" and a consensus price target of $20.33.

Institutional Trading of Bilibili

A number of hedge funds and other institutional investors have recently modified their holdings of BILI. Blue Trust Inc. lifted its stake in Bilibili by 227.3% in the third quarter. Blue Trust Inc. now owns 1,283 shares of the company's stock valued at $30,000 after acquiring an additional 891 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Bilibili in the 3rd quarter valued at about $9,570,000. US Bancorp DE grew its holdings in Bilibili by 882.4% during the third quarter. US Bancorp DE now owns 70,999 shares of the company's stock worth $1,660,000 after purchasing an additional 63,772 shares during the period. First Beijing Investment Ltd increased its position in Bilibili by 96.2% during the third quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company's stock worth $88,694,000 after buying an additional 1,860,496 shares during the last quarter. Finally, Assetmark Inc. bought a new stake in Bilibili in the third quarter valued at approximately $159,000. Institutional investors and hedge funds own 16.08% of the company's stock.

Bilibili Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.34 and a quick ratio of 1.05. The stock has a 50-day moving average price of $18.29 and a 200-day moving average price of $18.67. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of -47.33 and a beta of 0.81.

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.