KE (NYSE:BEKE) Shares Gap Up – What’s Next?

KE Holdings Inc. (NYSE:BEKE)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $21.25, but opened at $23.26. KE shares last traded at $22.90, with a volume of 5,744,535 shares changing hands.

Wall Street Analysts Forecast Growth

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

KE Stock Performance

The firm has a market cap of $27.75 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 3.45 and a beta of -0.76. The business’s 50 day moving average price is $18.17 and its 200 day moving average price is $18.49.

Hedge Funds Weigh In On KE

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in KE in the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of KE during the 4th quarter valued at approximately $30,000. Principal Securities Inc. grew its stake in KE by 411.9% in the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock valued at $38,000 after acquiring an additional 1,664 shares during the period. Rakuten Securities Inc. increased its holdings in KE by 334,500.0% in the 3rd quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock worth $67,000 after acquiring an additional 3,345 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position 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 acquiring an additional 4,021 shares during the period. Hedge funds and other institutional investors 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.