Bilibili (NASDAQ:BILI) Shares Gap Down - Here's What Happened

Bilibili Inc. (NASDAQ:BILI - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $18.34, but opened at $17.71. Bilibili shares last traded at $17.62, with a volume of 949,212 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BILI shares. Bank of America raised their target price on Bilibili from $19.00 to $22.50 and gave the stock a "buy" rating in a research report on Friday, October 25th. Benchmark lifted their price objective on Bilibili from $16.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Daiwa Capital Markets raised Bilibili from a "neutral" rating to a "buy" rating in a research report on Friday, November 8th. Barclays lifted their price objective on Bilibili from $19.00 to $24.00 and gave the company an "overweight" rating in a research report on Monday, November 18th. Finally, Daiwa America raised Bilibili from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Three research 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's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.69.

Bilibili Trading Up 10.9 %

The stock has a 50 day simple moving average of $18.12 and a 200-day simple moving average of $18.31. The firm has a market cap of $9.11 billion, a P/E ratio of -23.90 and a beta of 0.81.

Bilibili (NASDAQ:BILI - Get Free Report) last released its quarterly earnings data on Thursday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.47. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.14 billion. Bilibili had a negative return on equity of 15.17% and a negative net margin of 10.73%. The company's revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.39) EPS. As a group, equities analysts forecast that Bilibili Inc. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bilibili

Several hedge funds have recently bought and sold shares of BILI. Y Intercept Hong Kong Ltd increased its position in Bilibili by 1,064.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 190,275 shares of the company's stock valued at $4,449,000 after buying an additional 173,941 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Bilibili by 31.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,294,180 shares of the company's stock valued at $30,258,000 after buying an additional 311,073 shares in the last quarter. US Bancorp DE increased its position in Bilibili by 882.4% during the 3rd quarter. US Bancorp DE now owns 70,999 shares of the company's stock valued at $1,660,000 after buying an additional 63,772 shares in the last quarter. Jennison Associates LLC increased its position in Bilibili by 208.4% during the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company's stock valued at $42,260,000 after buying an additional 1,221,433 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Bilibili during the 3rd quarter valued at about $921,000. Institutional investors own 16.08% of the company's stock.

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.