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

KE Holdings Inc. (NYSE:BEKE) shares gapped up prior to trading on Monday . The stock had previously closed at $18.82, but opened at $21.14. KE shares last traded at $22.25, with a volume of 8,647,265 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup assumed coverage on KE in a research report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price objective for the company. Bank of America raised KE from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th. Finally, Barclays raised their target price on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th.

KE Stock Down 3.2 %

The stock has a market capitalization of $24.59 billion, a P/E ratio of 41.53, a PEG ratio of 4.37 and a beta of -0.77. The firm has a 50-day moving average of $21.02 and a 200 day moving average of $17.23.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. raised its stake in KE by 5.1% during the second quarter. QRG Capital Management Inc. now owns 14,040 shares of the company’s stock worth $199,000 after acquiring an additional 683 shares in the last quarter. Signaturefd LLC raised its stake 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 acquiring an additional 866 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in KE by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock worth $1,170,000 after acquiring an additional 1,271 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in KE during the third quarter worth $30,000. Finally, Crossmark Global Holdings Inc. raised its stake in KE by 6.6% during the third quarter. Crossmark Global Holdings Inc. now owns 27,201 shares of the company’s stock worth $541,000 after acquiring an additional 1,692 shares in the last quarter. 39.34% of the stock is currently owned by institutional investors and hedge funds.

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.