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

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BEKE shares. Citigroup started coverage on KE in a report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price objective on the stock. Bank of America raised KE from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $24.00 to $28.00 in a report on Wednesday, October 30th.

KE Price Performance

The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 39.59, a P/E/G ratio of 4.53 and a beta of -0.73. The firm’s 50 day moving average price is $20.46 and its two-hundred day moving average price is $17.13.

Institutional Investors Weigh In On KE

Several hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of KE during the third quarter worth about $1,033,000. Geode Capital Management LLC boosted its stake in shares of KE by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,765,337 shares of the company’s stock worth $74,323,000 after buying an additional 44,797 shares during the period. ABS Direct Equity Fund LLC acquired a new stake in shares of KE during the third quarter worth about $436,000. M&T Bank Corp boosted its stake in shares of KE by 14.2% during the third quarter. M&T Bank Corp now owns 46,964 shares of the company’s stock worth $935,000 after buying an additional 5,838 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of KE during the third quarter worth about $4,611,000. 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.