KE (NYSE:BEKE) Shares Gap Down to $16.93

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $16.93, but opened at $16.08. KE shares last traded at $15.77, with a volume of 1,831,970 shares.

Analysts Set New Price Targets

BEKE has been the subject of a number of recent research reports. Barclays increased their price objective on shares of KE from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Citigroup started coverage on KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price target for the company.

KE Price Performance

The company’s 50-day simple moving average is $14.33 and its 200-day simple moving average is $14.98. The stock has a market capitalization of $20.01 billion, a P/E ratio of 38.61, a price-to-earnings-growth ratio of 3.40 and a beta of -0.74.

KE (NYSE:BEKE) last issued its earnings results on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $2.06. The business had revenue of $23.37 billion during the quarter, compared to the consensus estimate of $21.51 billion. KE had a net margin of 5.32% and a return on equity of 6.74%. KE’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, analysts forecast that KE Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KE

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in KE by 2,662.2% in the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 3,168 shares during the period. Parallel Advisors LLC lifted its holdings in KE by 90.4% during the 4th quarter. Parallel Advisors LLC now owns 3,304 shares of the company’s stock worth $54,000 after purchasing an additional 1,569 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in KE in the 4th quarter valued at $123,000. Signaturefd LLC grew its holdings in KE by 12.5% in the 2nd quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after buying an additional 866 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in KE during the 2nd quarter worth $146,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

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.