KE (NYSE:BEKE) Shares Gap Down – Should You Sell?

KE Holdings Inc. (NYSE:BEKE) shares gapped down before the market opened on Wednesday . The stock had previously closed at $23.42, but opened at $22.30. KE shares last traded at $22.18, with a volume of 834,249 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Barclays boosted their target price on KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th.

KE Trading Up 0.1 %

The firm has a market capitalization of $27.16 billion, a PE ratio of 45.88, a price-to-earnings-growth ratio of 3.45 and a beta of -0.82. The business’s 50 day simple moving average is $19.19 and its two-hundred day simple moving average is $19.09.

Institutional Trading of KE

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new position in shares of KE in the third quarter worth $1,124,000. TT International Asset Management LTD purchased a new position in shares of KE in the fourth quarter worth $717,000. XTX Topco Ltd lifted its holdings in shares of KE by 324.8% in the third quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock worth $2,345,000 after buying an additional 90,054 shares in the last quarter. Headwater Capital Co Ltd purchased a new position in shares of KE in the fourth quarter worth $11,052,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of KE by 5.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,583,585 shares of the company’s stock worth $31,529,000 after buying an additional 76,517 shares in the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

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.