KE (NYSE:BEKE) Stock Price Down 9.1% – What’s Next?

KE Holdings Inc. (NYSE:BEKE) traded down 9.1% during trading on Friday . The company traded as low as $20.75 and last traded at $21.35. 5,812,508 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 9,401,285 shares. The stock had previously closed at $23.50.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $28.00 in a research note on Wednesday, October 30th. Citigroup initiated coverage on KE in a report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price target for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $25.90.

KE Trading Down 10.6 %

The firm has a market cap of $25.67 billion, a price-to-earnings ratio of 45.46, a P/E/G ratio of 4.87 and a beta of -0.73. The business’s 50-day simple moving average is $19.18 and its two-hundred day simple moving average is $16.74.

KE (NYSE:BEKE) last released its earnings results on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $2.06. The business had revenue of $23.37 billion during the quarter, compared to the consensus estimate of $21.51 billion. KE had a net margin of 5.32% and a return on equity of 6.74%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, analysts forecast that KE Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Trading of KE

Several hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of KE by 2,662.2% during the second quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after purchasing an additional 3,168 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in 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 during the last quarter. Venturi Wealth Management LLC boosted its holdings in 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 during the last quarter. US Bancorp DE boosted its holdings in KE by 41.6% during the third quarter. US Bancorp DE now owns 6,203 shares of the company’s stock worth $124,000 after purchasing an additional 1,823 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in KE by 12.5% during the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock worth $110,000 after purchasing an additional 866 shares during the last quarter. Institutional investors and hedge funds 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.