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

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

Analyst Upgrades and Downgrades

BILI has been the topic of a number of research analyst reports. Bank of America upped their target price on Bilibili from $19.00 to $22.50 and gave the stock a "buy" rating in a research note on Friday, October 25th. Daiwa America upgraded shares of Bilibili from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 8th. Daiwa Capital Markets upgraded shares of Bilibili from a "neutral" rating to a "buy" rating in a research report on Friday, November 8th. Mizuho raised their price objective on shares of Bilibili from $17.00 to $21.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Finally, Benchmark upped their target price on shares of Bilibili from $16.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Bilibili presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.69.

Bilibili Stock Down 5.4 %

The firm's fifty day moving average price is $18.16 and its 200-day moving average price is $18.46. The stock has a market cap of $8.62 billion, a P/E ratio of -22.62 and a beta of 0.81.

Hedge Funds Weigh In On Bilibili

Several hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd boosted its holdings in Bilibili by 1,064.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 190,275 shares of the company's stock valued at $4,449,000 after acquiring an additional 173,941 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Bilibili by 31.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,294,180 shares of the company's stock worth $30,258,000 after acquiring an additional 311,073 shares during the period. US Bancorp DE raised its position in shares of Bilibili by 882.4% in the 3rd quarter. US Bancorp DE now owns 70,999 shares of the company's stock worth $1,660,000 after acquiring an additional 63,772 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Bilibili by 208.4% in the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company's stock valued at $42,260,000 after purchasing an additional 1,221,433 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Bilibili during the third quarter valued at approximately $921,000. 16.08% of the stock is owned by 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.