Bilibili (NASDAQ:BILI) Trading Down 6.9% - Here's What Happened

Bilibili Inc. (NASDAQ:BILI - Get Free Report) traded down 6.9% during mid-day trading on Thursday . The company traded as low as $19.02 and last traded at $19.17. 1,939,705 shares changed hands during trading, a decline of 74% from the average session volume of 7,331,606 shares. The stock had previously closed at $20.59.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised Bilibili from a "neutral" rating to a "buy" rating and raised their price target for the stock from $16.50 to $22.60 in a report on Thursday, September 26th. Daiwa America lowered Bilibili from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Sanford C. Bernstein raised their price target on Bilibili from $12.00 to $13.00 and gave the stock a "market perform" rating in a report on Friday, August 23rd. Barclays raised Bilibili from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $14.00 to $19.00 in a report on Friday, August 23rd. Finally, Nomura Securities raised Bilibili from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.83.

Bilibili Stock Performance

The stock's 50-day moving average price is $17.52 and its 200-day moving average price is $15.54. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of -11.48 and a beta of 0.86.

Bilibili (NASDAQ:BILI - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.55). Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The company's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts anticipate that Bilibili Inc. will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of Bilibili by 61.9% during the 2nd quarter. CWM LLC now owns 2,232 shares of the company's stock worth $34,000 after purchasing an additional 853 shares during the last quarter. SG Americas Securities LLC raised its holdings in Bilibili by 4.9% in the 2nd quarter. SG Americas Securities LLC now owns 33,711 shares of the company's stock valued at $520,000 after acquiring an additional 1,569 shares during the last quarter. Creative Planning raised its holdings in Bilibili by 6.7% in the 2nd quarter. Creative Planning now owns 25,819 shares of the company's stock valued at $399,000 after acquiring an additional 1,632 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Bilibili by 10.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the company's stock valued at $272,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Profund Advisors LLC raised its holdings in Bilibili by 5.7% in the 2nd quarter. Profund Advisors LLC now owns 41,806 shares of the company's stock valued at $645,000 after acquiring an additional 2,257 shares during the last quarter. 16.08% of the stock is currently owned by institutional investors and hedge funds.

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.