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

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $19.47, but opened at $21.04. KE shares last traded at $21.12, with a volume of 4,879,922 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on BEKE shares. Barclays lifted their price target on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Bank of America upgraded shares of KE from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th.

KE Trading Up 7.3 %

The stock has a market capitalization of $25.23 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 2.95 and a beta of -0.76. The company’s 50-day moving average is $18.00 and its 200 day moving average is $18.01.

Institutional Investors Weigh In On KE

Large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of KE in the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of KE in the 4th quarter valued at $30,000. Principal Securities Inc. raised its holdings in shares of KE by 411.9% in the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock valued at $38,000 after purchasing an additional 1,664 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of KE by 334,500.0% in the 3rd quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock valued at $67,000 after purchasing an additional 3,345 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of KE by 5,089.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after purchasing an additional 4,021 shares in the last quarter. Hedge funds and other institutional investors 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.