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

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $20.95, but opened at $21.70. KE shares last traded at $22.00, with a volume of 2,678,360 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America boosted their price objective on KE from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Citigroup started coverage on shares of KE in a report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price target on the stock. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.90.

KE Trading Down 11.2 %

The business has a fifty day moving average price of $17.09 and a two-hundred day moving average price of $15.90. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 47.49, a P/E/G ratio of 4.76 and a beta of -0.71.

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

Institutional Trading of KE

A number of institutional investors have recently bought and sold shares of BEKE. Blue Trust Inc. raised its stake in shares of KE by 2,662.2% during the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 3,168 shares in the last quarter. Signaturefd LLC raised its position in KE by 12.5% during the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after acquiring an additional 866 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in KE in the second quarter valued at approximately $146,000. QRG Capital Management Inc. grew its position in KE by 11.3% in the first quarter. QRG Capital Management Inc. now owns 13,357 shares of the company’s stock worth $183,000 after acquiring an additional 1,360 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of KE by 25.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,606 shares of the company’s stock worth $201,000 after purchasing an additional 2,939 shares during the last quarter. Institutional investors and hedge funds 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.