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

KE Holdings Inc. (NYSE:BEKE)’s stock 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 traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America upgraded shares of KE from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $28.00 in a report on Wednesday, October 30th. Barclays increased 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.

KE Price Performance

The company has a market capitalization of $27.75 billion, a PE ratio of 46.75, a P/E/G ratio of 3.45 and a beta of -0.76. The business’s 50 day simple moving average is $18.17 and its 200 day simple moving average is $18.49.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its holdings in shares of KE by 7.1% during the 3rd quarter. Creative Planning now owns 30,002 shares of the company’s stock worth $597,000 after purchasing an additional 1,988 shares during the period. Allspring Global Investments Holdings LLC lifted its position in KE by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock valued at $1,170,000 after buying an additional 1,271 shares during the last quarter. abrdn plc boosted its stake in KE by 24.5% during the third quarter. abrdn plc now owns 591,835 shares of the company’s stock worth $11,869,000 after buying an additional 116,367 shares during the period. US Bancorp DE boosted its stake in KE by 41.6% during the third quarter. US Bancorp DE now owns 6,203 shares of the company’s stock worth $124,000 after buying an additional 1,823 shares during the period. Finally, WT Asset Management Ltd acquired a new stake in shares of KE during the third quarter valued at about $2,489,000. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

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.