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

Bilibili Inc. (NASDAQ:BILI - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $18.83, but opened at $18.27. Bilibili shares last traded at $18.08, with a volume of 868,201 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BILI shares. Nomura Securities raised shares of Bilibili from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 22nd. Morgan Stanley assumed coverage on Bilibili in a report on Wednesday, September 25th. They issued an "equal weight" rating and a $20.00 target price for the company. Daiwa America raised Bilibili from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. The Goldman Sachs Group upgraded Bilibili from a "neutral" rating to a "buy" rating and upped their price target for the company from $16.50 to $22.60 in a research report on Thursday, September 26th. Finally, Benchmark lifted their price objective on Bilibili from $16.00 to $24.00 and gave the company a "buy" rating in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $19.69.

Bilibili Stock Down 2.7 %

The stock has a fifty day moving average of $20.92 and a 200-day moving average of $17.13. The firm has a market capitalization of $7.60 billion, a P/E ratio of -20.52 and a beta of 0.86.

Bilibili (NASDAQ:BILI - Get Free Report) last announced its earnings results on Thursday, November 14th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.47. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.14 billion. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The company's revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.39) earnings per share. As a group, analysts forecast that Bilibili Inc. will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Bilibili

Several institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Bilibili in the first quarter valued at approximately $408,000. Natixis bought a new position in Bilibili during the 1st quarter worth about $537,000. Quadrature Capital Ltd acquired a new stake in shares of Bilibili in the 1st quarter valued at about $456,000. Sandia Investment Management LP acquired a new stake in shares of Bilibili in the 1st quarter valued at about $112,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Bilibili in the first quarter valued at about $3,918,000. Institutional investors and hedge funds 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.

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