Bilibili (NASDAQ:BILI) Shares Gap Up – Time to Buy?

Shares of Bilibili Inc. Sponsored ADR (NASDAQ:BILI) gapped up prior to trading on Wednesday . The stock had previously closed at $30.27, but opened at $32.08. Bilibili shares last traded at $31.9220, with a volume of 1,368,546 shares changing hands.

Analyst Ratings Changes

BILI has been the subject of several research analyst reports. Bank of America lowered their target price on Bilibili from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bilibili in a report on Wednesday. Benchmark upped their price objective on shares of Bilibili from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Macquarie initiated coverage on shares of Bilibili in a research note on Tuesday, October 14th. They issued an “outperform” rating and a $36.03 price objective for the company. Finally, Barclays boosted their target price on shares of Bilibili from $28.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.61.

Bilibili Stock Down 0.1%

The stock has a 50-day moving average price of $26.86 and a 200-day moving average price of $26.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $13.96 billion, a P/E ratio of 133.60 and a beta of 0.66.

Hedge Funds Weigh In On Bilibili

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bridgewater Advisors Inc. acquired a new stake in Bilibili during the fourth quarter worth approximately $175,000. Venturi Wealth Management LLC bought a new position in shares of Bilibili during the 4th quarter worth approximately $451,000. Step Capital Management Pte. Ltd. acquired a new stake in shares of Bilibili during the 4th quarter worth approximately $24,590,000. Tuttle Capital Management LLC bought a new stake in shares of Bilibili in the 4th quarter valued at $374,000. Finally, FNY Investment Advisers LLC bought a new position in Bilibili during the third quarter worth $1,460,000. Institutional investors and hedge funds own 16.08% of the company’s stock.

About Bilibili

Bilibili (NASDAQ: BILI) is a leading Chinese online entertainment platform renowned for its focus on animation, comics and games (ACG) content. The company operates a video-sharing website where users can view, upload and comment on a wide range of content, from full-length anime episodes to user-generated short videos. In addition to on-demand streaming, Bilibili offers live broadcasting services that connect creators with fans through real-time interaction features such as “bullet comments” that flow across the screen.

Beyond its core video community, Bilibili generates revenue through multiple value-added services.