KE (NYSE:BEKE) Shares Gap Down – Should You Sell?

Shares of KE Holdings Inc. (NYSE:BEKE) gapped down before the market opened on Wednesday . The stock had previously closed at $22.26, but opened at $21.36. KE shares last traded at $21.08, with a volume of 4,044,480 shares traded.

Analyst Ratings Changes

Separately, Citigroup started coverage on shares of KE in a report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price target for the company.

KE Stock Performance

The firm has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $15.56. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 51.41, a price-to-earnings-growth ratio of 3.40 and a beta of -0.71.

KE (NYSE:BEKE) last issued its quarterly earnings data on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping 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%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. Research analysts anticipate that KE Holdings Inc. will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On KE

Several hedge funds have recently made changes to their positions in the company. Perpetual Ltd acquired a new stake in shares of KE in the 3rd quarter valued at about $2,328,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of KE by 23.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,068,300 shares of the company’s stock valued at $15,116,000 after acquiring an additional 204,900 shares during the period. Maven Securities LTD purchased a new position in shares of KE during the second quarter worth approximately $354,000. Creative Planning increased its holdings in shares of KE by 106.6% in the 2nd quarter. Creative Planning now owns 28,014 shares of the company’s stock valued at $396,000 after acquiring an additional 14,457 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in KE in the 2nd quarter valued at $1,070,000. Hedge funds and other institutional investors 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.