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

Shares of Bilibili Inc. (NASDAQ:BILI - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $20.16, but opened at $19.60. Bilibili shares last traded at $19.18, with a volume of 684,770 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Bilibili from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Nomura Securities lowered Bilibili from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Benchmark increased their price target on Bilibili from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.11.

Bilibili Stock Performance

The stock's 50-day moving average price is $19.78 and its 200-day moving average price is $19.83. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of -42.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.34.

Bilibili (NASDAQ:BILI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Bilibili had a negative net margin of 5.01% and a negative return on equity of 8.23%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. As a group, equities research analysts expect that Bilibili Inc. will post 0.16 earnings per share for the current year.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Bilibili in the 3rd quarter valued at $921,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Bilibili by 26.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,528 shares of the company's stock worth $82,000 after purchasing an additional 735 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of Bilibili during the 3rd quarter worth about $516,000. Quantinno Capital Management LP increased its position in Bilibili by 17.1% during the 3rd quarter. Quantinno Capital Management LP now owns 23,557 shares of the company's stock worth $551,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Bilibili by 67.8% in the third quarter. Quadrature Capital Ltd now owns 207,657 shares of the company's stock valued at $4,855,000 after buying an additional 83,941 shares during the period. 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.