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

Bilibili Inc. (NASDAQ:BILI - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.81, but opened at $23.01. Bilibili shares last traded at $22.77, with a volume of 1,078,267 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BILI shares. Barclays raised their price target on Bilibili from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Mizuho increased their price objective on shares of Bilibili from $17.00 to $21.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Benchmark boosted their target price on shares of Bilibili from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Nomura Securities cut shares of Bilibili from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.33.

Bilibili Stock Up 4.9 %

The company has a market capitalization of $9.48 billion, a P/E ratio of -50.72 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.34 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $18.72 and a 200-day simple moving average of $19.21.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings 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 valued at $27,000 after purchasing an additional 1,436 shares during the last quarter. TD Private Client Wealth LLC acquired a new stake in Bilibili in the 3rd quarter valued at $53,000. Venturi Wealth Management LLC acquired a new position in shares of Bilibili during the 3rd quarter worth about $63,000. Federated Hermes Inc. bought a new position in shares of Bilibili in the 4th quarter valued at about $55,000. Finally, Blue Trust Inc. increased 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 acquiring an additional 1,896 shares during the last quarter. 16.08% of the stock is 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.

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