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

Shares of KE Holdings Inc. (NYSE:BEKE) gapped up prior to trading on Tuesday . The stock had previously closed at $17.10, but opened at $17.86. KE shares last traded at $17.23, with a volume of 2,181,578 shares.

Wall Street Analyst Weigh In

BEKE has been the topic of a number of research reports. Barclays raised their price target on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.00 to $28.00 in a research note on Wednesday, October 30th.

KE Trading Up 0.4 %

The firm has a market cap of $20.75 billion, a P/E ratio of 35.08, a P/E/G ratio of 2.82 and a beta of -0.76. The business has a 50-day moving average price of $18.64 and a 200-day moving average price of $17.67.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of KE in the second quarter worth approximately $146,000. XTX Topco Ltd purchased a new stake in KE in the 2nd quarter valued at $392,000. Public Sector Pension Investment Board raised its holdings in shares of KE by 1.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 222,826 shares of the company’s stock worth $3,153,000 after acquiring an additional 4,000 shares during the period. Bank of Montreal Can boosted its position in shares of KE by 54.5% during the 2nd quarter. Bank of Montreal Can now owns 98,600 shares of the company’s stock valued at $1,395,000 after acquiring an additional 34,800 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its position in KE by 28.0% during the second quarter. Point72 Hong Kong Ltd now owns 909,116 shares of the company’s stock worth $12,864,000 after purchasing an additional 198,897 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.

About KE

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.