KE (NYSE:BEKE) Shares Gap Up – Here’s What Happened

KE Holdings Inc. (NYSE:BEKE) shares gapped up prior to trading on Monday . The stock had previously closed at $18.82, but opened at $21.14. KE shares last traded at $22.25, with a volume of 8,647,265 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BEKE. Barclays upped their target price on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup began coverage on KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price on the stock. Finally, Bank of America upgraded KE from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $28.00 in a report on Wednesday, October 30th.

KE Price Performance

The business has a fifty day moving average of $21.02 and a 200 day moving average of $17.23. The stock has a market cap of $24.59 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 4.37 and a beta of -0.77.

Hedge Funds Weigh In On KE

A number of hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in KE during the third quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in shares of KE by 2,662.2% in the second quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 3,168 shares during the period. Rakuten Securities Inc. boosted its position in shares of KE by 334,500.0% in the third quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock valued at $67,000 after acquiring an additional 3,345 shares during the period. Venturi Wealth Management LLC boosted its position in shares of KE by 5,089.9% in the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after acquiring an additional 4,021 shares during the period. Finally, Signaturefd LLC boosted its position in shares of KE by 12.5% in the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after acquiring an additional 866 shares during the period. Institutional investors and hedge funds own 39.34% of the company’s stock.

KE Company Profile

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.