KE (NYSE:BEKE) Shares Gap Up – Still a Buy?

KE Holdings Inc. (NYSE:BEKE)’s share 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.

Wall Street Analyst Weigh In

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

KE Price Performance

The business has a 50-day simple moving average of $18.06 and a 200 day simple moving average of $18.04. The firm has a market cap of $24.60 billion, a PE ratio of 41.54, a PEG ratio of 2.95 and a beta of -0.76.

Institutional Trading of KE

A number of hedge funds and other institutional investors have recently bought and sold shares of BEKE. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of KE during the third quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of KE during the fourth quarter worth about $30,000. Principal Securities Inc. grew its position in shares of KE by 411.9% during the fourth quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock worth $38,000 after purchasing an additional 1,664 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of KE by 334,500.0% during the third quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock worth $67,000 after purchasing an additional 3,345 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of KE by 5,089.9% during the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock worth $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.