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

Bilibili Inc. (NASDAQ:BILI - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $21.23, but opened at $20.22. Bilibili shares last traded at $20.43, with a volume of 1,132,583 shares changing hands.

Analyst Ratings Changes

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

Bilibili Stock Performance

The firm's fifty day moving average is $19.47 and its 200-day moving average is $19.65. The company has a current ratio of 1.34, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $8.21 billion, a PE ratio of -44.04 and a beta of 0.93.

Bilibili (NASDAQ:BILI - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.05 billion. As a group, research analysts anticipate 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 large investors have recently added to or reduced their stakes in BILI. Avior Wealth Management LLC raised its holdings in shares of Bilibili by 1,817.7% in the 4th quarter. Avior Wealth Management LLC now owns 1,515 shares of the company's stock valued at $27,000 after buying an additional 1,436 shares during the period. TD Private Client Wealth LLC acquired a new position in Bilibili in the 3rd quarter valued at about $53,000. Federated Hermes Inc. purchased a new stake in Bilibili during the fourth quarter worth about $55,000. Blue Trust Inc. increased its stake in Bilibili by 147.8% during the fourth quarter. Blue Trust Inc. now owns 3,179 shares of the company's stock worth $58,000 after purchasing an additional 1,896 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bilibili by 26.3% during the third 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 in the last quarter. 16.08% of the stock is currently owned by institutional investors and hedge funds.

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.