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

KE Holdings Inc. (NYSE:BEKE) shares gapped down before the market opened on Thursday . The stock had previously closed at $20.23, but opened at $19.25. KE shares last traded at $20.28, with a volume of 2,868,294 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BEKE. Citigroup began coverage on KE in a research note on Tuesday, September 10th. They set a “buy” rating and a $23.80 price target for the company. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $28.00 in a research note on Wednesday, October 30th.

KE Stock Performance

The firm has a 50 day moving average of $20.21 and a two-hundred day moving average of $17.09. The stock has a market cap of $24.71 billion, a P/E ratio of 41.92, a P/E/G ratio of 4.53 and a beta of -0.73.

Hedge Funds Weigh In On KE

Large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of KE in the 3rd quarter worth approximately $30,000. Blue Trust Inc. raised its holdings in shares of KE by 2,662.2% in the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after buying an additional 3,168 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of 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 buying an additional 3,345 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of KE by 5,089.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock worth $82,000 after buying an additional 4,021 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of KE by 12.5% in the 2nd quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock worth $110,000 after buying an additional 866 shares in 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.