KE (NYSE:BEKE) Shares Gap Up – Time to Buy?

KE Holdings Inc. (NYSE:BEKE)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $19.61, but opened at $20.60. KE shares last traded at $20.23, with a volume of 1,547,643 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on BEKE shares. Barclays raised their price objective on 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 upped their price objective for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th.

KE Price Performance

The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 41.30, a price-to-earnings-growth ratio of 3.38 and a beta of -0.76. The stock has a 50 day moving average price of $18.07 and a 200-day moving average price of $18.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its holdings in KE by 5.1% in the 4th quarter. QRG Capital Management Inc. now owns 14,395 shares of the company’s stock valued at $265,000 after buying an additional 703 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of KE by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company’s stock valued at $173,000 after acquiring an additional 762 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of KE by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock valued at $1,170,000 after purchasing an additional 1,271 shares during the period. Rakuten Securities Inc. increased its position in KE by 42.3% during the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock worth $88,000 after purchasing an additional 1,416 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in KE during the third quarter worth about $30,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

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.