KE (NYSE:BEKE) Shares Gap Up – Here’s Why

KE Holdings Inc. (NYSE:BEKEGet Free Report)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.10, but opened at $17.86. KE shares last traded at $17.23, with a volume of 2,181,578 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America upgraded shares of KE from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $28.00 in a research note on Wednesday, October 30th. Barclays raised their target price on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th.

Read Our Latest Report on KE

KE Stock Performance

The firm’s 50 day simple moving average is $18.51 and its 200 day simple moving average is $17.68. The firm has a market capitalization of $20.41 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.79 and a beta of -0.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEKE. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of KE during the 3rd quarter worth approximately $1,124,000. XTX Topco Ltd grew its position in KE by 324.8% during the third quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock valued at $2,345,000 after buying an additional 90,054 shares during the period. TT International Asset Management LTD purchased a new position in KE in the fourth quarter valued at $717,000. Lighthouse Investment Partners LLC acquired a new position in shares of KE in the second quarter worth about $1,142,000. Finally, Headwater Capital Co Ltd purchased a new stake in shares of KE during the 4th quarter worth about $11,052,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

KE Company Profile

(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.

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