KE (NYSE:BEKE) Shares Gap Up – What’s Next?

Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) gapped up before the market opened on Thursday . The stock had previously closed at $18.70, but opened at $19.83. KE shares last traded at $19.1950, with a volume of 3,787,406 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on BEKE. Wall Street Zen raised KE from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of KE in a research note on Monday, December 22nd. Finally, UBS Group downgraded shares of KE from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, KE currently has a consensus rating of “Moderate Buy” and an average target price of $23.30.

KE Stock Performance

The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 45.80, a P/E/G ratio of 2.32 and a beta of -0.63. The company has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $17.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEKE. Norges Bank purchased a new position in KE in the second quarter valued at about $124,616,000. Artisan Partners Limited Partnership lifted its holdings in KE by 78.7% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,526,606 shares of the company’s stock valued at $133,522,000 after acquiring an additional 3,315,704 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of KE during the third quarter valued at $47,500,000. Athos Capital Ltd acquired a new position in KE in the 3rd quarter worth approximately $47,500,000. Finally, Invesco Ltd. boosted its holdings in shares of KE by 197.8% during the second quarter. Invesco Ltd. now owns 2,421,452 shares of the company’s stock worth $42,957,000 after purchasing an additional 1,608,207 shares during the period. Institutional investors and hedge funds own 39.34% of the company’s stock.

About KE

KE Holdings Inc (NYSE: BEKE) is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.