KE (NYSE:BEKE) Stock Price Up 7.2% – Here’s Why

KE Holdings Inc. (NYSE:BEKE) shares shot up 7.2% during trading on Tuesday . The company traded as high as $17.65 and last traded at $17.68. 2,150,880 shares traded hands during trading, a decline of 68% from the average session volume of 6,647,289 shares. The stock had previously closed at $16.50.

Analyst Ratings Changes

A number of brokerages have commented on BEKE. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $28.00 in a research report on Wednesday, October 30th. Barclays upped their price objective on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, November 25th.

KE Stock Performance

The company has a market cap of $21.12 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 2.88 and a beta of -0.76. The stock’s fifty day moving average is $18.11 and its two-hundred day moving average is $17.83.

Institutional Investors Weigh In On KE

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of KE by 203.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,478,102 shares of the company’s stock valued at $128,979,000 after acquiring an additional 4,340,517 shares during the period. WT Asset Management Ltd raised its position in shares of KE by 1,761.8% during the 4th quarter. WT Asset Management Ltd now owns 2,327,198 shares of the company’s stock valued at $42,867,000 after buying an additional 2,202,198 shares in the last quarter. Assenagon Asset Management S.A. raised its position in KE by 1,155.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,353,268 shares of the company’s stock worth $46,854,000 after purchasing an additional 2,165,863 shares during the period. Lord Abbett & CO. LLC purchased a new position in KE in the 3rd quarter worth $28,956,000. Finally, M&G PLC grew its holdings in KE by 16.4% in the 3rd quarter. M&G PLC now owns 10,090,834 shares of the company’s stock worth $201,817,000 after acquiring an additional 1,422,667 shares during the last quarter. 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.