Bilibili (NASDAQ:BILI) Sees Strong Trading Volume After Strong Earnings

Bilibili Inc. Sponsored ADR (NASDAQ:BILI) shares saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings. 4,612,259 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 2,722,020 shares.The stock last traded at $19.5450 and had previously closed at $19.63.

The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Bilibili had a return on equity of 11.03% and a net margin of 4.58%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share.

Analyst Upgrades and Downgrades

BILI has been the topic of several research reports. Macquarie Infrastructure reaffirmed an “outperform” rating and set a $30.00 price target on shares of Bilibili in a research note on Tuesday. Morgan Stanley raised Bilibili from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $25.00 to $31.00 in a research note on Monday, April 13th. JPMorgan Chase & Co. upgraded Bilibili from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $27.00 to $35.00 in a report on Tuesday, March 17th. Wall Street Zen downgraded Bilibili from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, Benchmark restated a “buy” rating on shares of Bilibili in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.78.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BILI. Morgan Stanley lifted its position in shares of Bilibili by 187.2% in the fourth quarter. Morgan Stanley now owns 3,846,849 shares of the company’s stock valued at $94,594,000 after buying an additional 2,507,321 shares during the last quarter. Step Capital Management Pte. Ltd. acquired a new stake in shares of Bilibili in the fourth quarter valued at approximately $24,590,000. SIH Partners LLLP lifted its position in shares of Bilibili by 327.1% in the fourth quarter. SIH Partners LLLP now owns 1,021,800 shares of the company’s stock valued at $25,126,000 after buying an additional 782,540 shares during the last quarter. MY.Alpha Management HK Advisors Ltd bought a new position in shares of Bilibili during the fourth quarter worth approximately $16,620,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Bilibili by 138.0% during the fourth quarter. Panagora Asset Management Inc. now owns 869,388 shares of the company’s stock worth $21,378,000 after purchasing an additional 504,070 shares during the period. 16.08% of the stock is owned by institutional investors and hedge funds.

Bilibili Stock Performance

The company has a market cap of $7.59 billion, a P/E ratio of 40.67 and a beta of 0.79. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $23.10 and a two-hundred day moving average price of $26.44.

Bilibili Company Profile

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.