KE (NYSE:BEKE) Shares Gap Down to $17.44

Shares of KE Holdings Inc. (NYSE:BEKE) gapped down before the market opened on Wednesday . The stock had previously closed at $17.44, but opened at $16.85. KE shares last traded at $17.26, with a volume of 25,496 shares.

Several analysts recently issued reports on BEKE shares. JPMorgan Chase & Co. lowered KE from an “overweight” rating to a “neutral” rating in a report on Wednesday, August 11th. HSBC downgraded KE from a “buy” rating to a “hold” rating and set a $19.90 target price for the company. in a research note on Friday, August 13th. Zacks Investment Research lowered shares of KE from a “hold” rating to a “sell” rating in a research note on Monday, August 16th. 86 Research raised shares of KE from a “sell” rating to a “hold” rating and set a $39.00 price target for the company in a research note on Thursday, May 20th. Finally, The Goldman Sachs Group downgraded shares of KE from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $35.00 to $19.30 in a research note on Monday, August 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KE presently has an average rating of “Hold” and a consensus target price of $47.11.

The firm has a market capitalization of $15.17 billion and a price-to-earnings ratio of 48.45. The business has a 50 day moving average of $24.77 and a 200 day moving average of $42.94.

KE (NYSE:BEKE) last issued its quarterly earnings data on Wednesday, August 11th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.41 billion. KE had a return on equity of 4.92% and a net margin of 3.82%. Sell-side analysts predict that KE Holdings Inc. will post 0.19 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SB Investment Advisers UK Ltd. purchased a new stake in KE in the 1st quarter worth $5,956,243,000. Baillie Gifford & Co. grew its position in KE by 3.8% during the second quarter. Baillie Gifford & Co. now owns 20,937,919 shares of the company’s stock valued at $998,321,000 after buying an additional 770,744 shares during the period. BlackRock Inc. grew its position in shares of KE by 111.9% in the second quarter. BlackRock Inc. now owns 15,128,280 shares of the company’s stock valued at $721,316,000 after purchasing an additional 7,989,769 shares during the period. JPMorgan Chase & Co. boosted its position in KE by 18.0% during the second quarter. JPMorgan Chase & Co. now owns 13,092,982 shares of the company’s stock worth $624,273,000 after acquiring an additional 1,996,401 shares during the last quarter. Finally, Lone Pine Capital LLC purchased a new stake in shares of KE in the 2nd quarter valued at approximately $623,140,000. Institutional investors own 31.34% of the company’s stock.

About KE (NYSE:BEKE)

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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.

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