Bilibili (BILI) Cut to “Equal Weight” at Morgan Stanley
Bilibili (NASDAQ:BILI) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, The Fly reports.
BILI has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on Bilibili from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 29th. Bank of America lifted their price objective on Bilibili from $15.30 to $17.30 and gave the company a “buy” rating in a research report on Tuesday, June 26th.
Shares of Bilibili stock opened at $12.43 on Monday. Bilibili has a 12 month low of $9.09 and a 12 month high of $22.70.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in Bilibili by 73.0% during the second quarter. Wells Fargo & Company MN now owns 4,258,279 shares of the company’s stock valued at $59,573,000 after purchasing an additional 1,797,067 shares during the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in Bilibili during the first quarter valued at $36,378,000. BlackRock Inc. boosted its position in Bilibili by 482.8% during the second quarter. BlackRock Inc. now owns 2,331,934 shares of the company’s stock valued at $32,624,000 after purchasing an additional 1,931,783 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Bilibili during the first quarter valued at $20,866,000. Finally, TB Alternative Assets Ltd. acquired a new stake in Bilibili during the second quarter valued at $17,916,000. 9.77% of the stock is owned by hedge funds and other institutional investors.
Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a platform that covers a range of genres and media formats, including videos, live broadcasting, and mobile games. The company was founded in 2009 and is headquartered in Shanghai, the People's Republic of China.
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