KE (NYSE:BEKE) Sees Large Volume Increase – Here’s What Happened

KE Holdings Inc. (NYSE:BEKE) shares saw unusually-high trading volume on Tuesday . Approximately 5,174,092 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 4,330,149 shares.The stock last traded at $16.83 and had previously closed at $17.74.

Wall Street Analyst Weigh In

BEKE has been the topic of several research analyst reports. Barclays lifted their price target on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup initiated coverage on KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price target on the stock. Finally, Bank of America raised 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 Stock Down 3.0 %

The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 4.76 and a beta of -0.76. The company has a 50-day moving average price of $19.72 and a 200 day moving average price of $17.56.

Hedge Funds Weigh In On KE

Large investors have recently made changes to their positions in the business. Central Asset Investments & Management Holdings HK Ltd bought a new position in KE during the third quarter valued at approximately $1,124,000. XTX Topco Ltd grew its stake in KE by 324.8% in the 3rd quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock valued at $2,345,000 after buying an additional 90,054 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in KE in the 2nd quarter valued at $1,142,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in KE by 5.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,583,585 shares of the company’s stock worth $31,529,000 after acquiring an additional 76,517 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in KE in the 2nd quarter valued at $627,000. 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.