Bilibili (NASDAQ:BILI) Shares Gap Up – Here’s Why

Bilibili Inc. Sponsored ADR (NASDAQ:BILI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $22.42, but opened at $23.30. Bilibili shares last traded at $23.21, with a volume of 751,359 shares traded.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Bilibili in a research report on Tuesday, July 8th. They set an “outperform” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. cut Bilibili from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $24.00 in a research report on Monday, July 28th. Jefferies Financial Group set a $28.00 price objective on Bilibili in a research report on Thursday, August 21st. Barclays lifted their price objective on Bilibili from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, August 22nd. Finally, Hsbc Global Res upgraded Bilibili to a “strong-buy” rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.91.

Bilibili Stock Up 3.7%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $9.72 billion, a PE ratio of 332.29 and a beta of 0.94. The firm has a fifty day simple moving average of $22.90 and a 200 day simple moving average of $20.42.

Institutional Trading of Bilibili

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Bilibili by 7.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,970 shares of the company’s stock valued at $214,000 after buying an additional 709 shares during the period. Geode Capital Management LLC grew its holdings in shares of Bilibili by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 103,666 shares of the company’s stock worth $2,224,000 after purchasing an additional 713 shares during the period. Laird Norton Wetherby Wealth Management LLC grew its holdings in shares of Bilibili by 3.3% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 23,109 shares of the company’s stock worth $419,000 after purchasing an additional 749 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Bilibili by 16.6% during the 1st quarter. Advisors Asset Management Inc. now owns 5,280 shares of the company’s stock worth $101,000 after purchasing an additional 751 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Bilibili by 1.2% during the 1st quarter. Royal Bank of Canada now owns 87,505 shares of the company’s stock worth $1,672,000 after purchasing an additional 1,014 shares during the period. Hedge funds and other institutional investors own 16.08% of the company’s stock.

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.