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

by · The Cerbat Gem

KE Holdings Inc. Sponsored ADR (NYSE:BEKE – Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $17.02, but opened at $17.57. KE shares last traded at $17.5450, with a volume of 1,302,881 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KE in a research report on Monday. Wall Street Zen downgraded shares of KE from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Barclays cut their price objective on KE from $33.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 15th. Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, UBS Group cut shares of KE from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.30.

Check Out Our Latest Stock Analysis on BEKE

KE Trading Down 1.2%

The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 3.34 and a beta of -0.65. The stock has a fifty day moving average price of $17.33 and a 200-day moving average price of $18.21.

Hedge Funds Weigh In On KE

A number of large investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of KE during the second quarter valued at $124,616,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of KE by 299.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company’s stock worth $147,135,000 after buying an additional 5,490,172 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its stake in shares of KE by 777.5% during the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 4,771,806 shares of the company’s stock worth $95,866,000 after buying an additional 4,228,006 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in KE by 78.7% in the second quarter. Artisan Partners Limited Partnership now owns 7,526,606 shares of the company’s stock valued at $133,522,000 after buying an additional 3,315,704 shares during the period. Finally, Athos Capital Ltd acquired a new stake in KE during the 3rd quarter worth $47,500,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

About KE

(Get Free Report)

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.

See Also