Bilibili (NASDAQ:BILI) Sees Strong Trading Volume – Still a Buy?

Shares of Bilibili Inc. (NASDAQ:BILI) saw an uptick in trading volume on Thursday . 4,680,653 shares changed hands during trading, a decline of 35% from the previous session’s volume of 7,164,872 shares.The stock last traded at $18.51 and had previously closed at $21.27.

Wall Street Analyst Weigh In

Several brokerages recently commented on BILI. Barclays upgraded shares of Bilibili from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $19.00 in a report on Friday, August 23rd. Daiwa Capital Markets upgraded Bilibili from a “neutral” rating to a “buy” rating in a research note on Friday, November 8th. The Goldman Sachs Group upgraded Bilibili from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.50 to $22.60 in a research note on Thursday, September 26th. Daiwa America raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Nomura Securities raised Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.51.

Bilibili Stock Down 13.7 %

The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of -13.81 and a beta of 0.86. The business’s 50 day simple moving average is $20.50 and its 200-day simple moving average is $16.94.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.55). The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.10 billion. Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.43) earnings per share. On average, analysts expect that Bilibili Inc. will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Bilibili

Large investors have recently bought and sold shares of the company. First Beijing Investment Ltd lifted its holdings in shares of Bilibili by 96.2% in the third quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock worth $88,694,000 after acquiring an additional 1,860,496 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Bilibili by 422.0% in the third quarter. BNP Paribas Financial Markets now owns 2,256,058 shares of the company’s stock valued at $52,747,000 after purchasing an additional 1,823,829 shares in the last quarter. Quarry LP bought a new stake in shares of Bilibili during the second quarter worth about $29,336,000. Jennison Associates LLC increased its position in shares of Bilibili by 208.4% during the third quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after acquiring an additional 1,221,433 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Bilibili during the first quarter worth about $14,849,000. 16.08% of the stock is currently 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.