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 $19.13, but opened at $17.33. Bilibili shares last traded at $16.92, with a volume of 2,028,386 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Nomura Securities downgraded Bilibili from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Barclays raised their price target on shares of Bilibili from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, Benchmark upped their price objective on shares of Bilibili from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Three investment 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. According to MarketBeat, Bilibili has a consensus rating of "Moderate Buy" and a consensus price target of $21.11.

Bilibili Stock Performance

The firm has a market cap of $6.58 billion, a price-to-earnings ratio of -35.29 and a beta of 0.95. The firm's 50 day moving average is $19.81 and its 200-day moving average is $19.89. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.05 billion. Bilibili had a negative return on equity of 8.23% and a negative net margin of 5.01%. Sell-side analysts anticipate that Bilibili Inc. will post 0.16 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Bilibili

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC lifted its stake in shares of Bilibili by 1,817.7% in the fourth quarter. Avior Wealth Management LLC now owns 1,515 shares of the company's stock worth $27,000 after buying an additional 1,436 shares during the last quarter. TD Private Client Wealth LLC acquired a new position in Bilibili during the 3rd quarter worth $53,000. Federated Hermes Inc. bought a new stake in Bilibili during the fourth quarter valued at about $55,000. Blue Trust Inc. grew its position in shares of Bilibili by 147.8% in the fourth quarter. Blue Trust Inc. now owns 3,179 shares of the company's stock valued at $58,000 after purchasing an additional 1,896 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bilibili by 26.3% in 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 during the period. 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.