KE (NYSE:BEKE) Shares Gap Up – Should You Buy?

KE Holdings Inc. (NYSE:BEKE) gapped up before the market opened 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 traded.

Analysts Set New Price Targets

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

KE Stock Performance

The stock has a 50-day simple moving average of $21.06 and a 200 day simple moving average of $17.18. The stock has a market capitalization of $26.28 billion, a P/E ratio of 44.53, a price-to-earnings-growth ratio of 4.37 and a beta of -0.77.

Hedge Funds Weigh In On KE

Hedge funds have recently added to or reduced their stakes in the company. Central Asset Investments & Management Holdings HK Ltd bought a new stake in KE during the 3rd quarter worth about $1,124,000. Lighthouse Investment Partners LLC acquired a new stake in shares of KE during the 2nd quarter worth approximately $1,142,000. SG Americas Securities LLC raised its stake in shares of KE by 37.6% during the second quarter. SG Americas Securities LLC now owns 235,853 shares of the company’s stock worth $3,337,000 after buying an additional 64,449 shares during the last quarter. MBB Public Markets I LLC acquired a new position in KE in the second quarter valued at approximately $627,000. Finally, Bank of Montreal Can lifted its holdings in KE by 54.5% in the second quarter. Bank of Montreal Can now owns 98,600 shares of the company’s stock valued at $1,395,000 after buying an additional 34,800 shares during the period. 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.