Bilibili (NASDAQ:BILI) Trading 5.3% Higher - Here's Why

Bilibili Inc. (NASDAQ:BILI - Get Free Report) shares were up 5.3% during mid-day trading on Wednesday . The company traded as high as $18.67 and last traded at $18.54. Approximately 3,124,689 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 5,015,498 shares. The stock had previously closed at $17.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BILI shares. Daiwa Capital Markets raised shares of Bilibili from a "neutral" rating to a "buy" rating in a report on Friday, November 8th. Barclays upped their price target on shares of Bilibili from $19.00 to $24.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Benchmark upped their price target on shares of Bilibili from $16.00 to $24.00 and gave the company a "buy" rating in a report on Friday, November 15th. Bank of America upped their price target on shares of Bilibili from $19.00 to $22.50 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Daiwa America raised shares of Bilibili from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.69.

Bilibili Stock Up 10.9 %

The company has a market capitalization of $9.11 billion, a PE ratio of -23.90 and a beta of 0.81. The business's 50 day simple moving average is $18.19 and its 200 day simple moving average is $18.41.

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

Institutional Trading of Bilibili

A number of hedge funds have recently made changes to their positions in BILI. Avior Wealth Management LLC lifted its position 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 purchasing an additional 1,436 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Bilibili by 227.3% in the third quarter. Blue Trust Inc. now owns 1,283 shares of the company's stock worth $30,000 after purchasing an additional 891 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of Bilibili in the third quarter worth approximately $53,000. Federated Hermes Inc. purchased a new stake in shares of Bilibili in the fourth quarter worth approximately $55,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Bilibili in the third quarter worth approximately $63,000. 16.08% of the stock is owned by hedge funds and other institutional investors.

Bilibili Company Profile

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.