KE (NYSE:BEKE) Shares Gap Up – What’s Next?

KE Holdings Inc. (NYSE:BEKE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $19.61, but opened at $20.60. KE shares last traded at $20.23, with a volume of 1,547,643 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on BEKE. Barclays raised their target price on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.00 to $28.00 in a report on Wednesday, October 30th.

KE Trading Up 3.2 %

The company’s fifty day moving average is $18.07 and its two-hundred day moving average is $18.24. The stock has a market cap of $24.45 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 3.38 and a beta of -0.76.

Institutional Investors Weigh In On KE

Several institutional investors and hedge funds have recently modified their holdings of BEKE. Creative Planning grew its holdings in shares of KE by 7.1% in the third quarter. Creative Planning now owns 30,002 shares of the company’s stock valued at $597,000 after purchasing an additional 1,988 shares in the last quarter. Blue Trust Inc. grew its stake in shares of KE by 352.9% in the third quarter. Blue Trust Inc. now owns 14,886 shares of the company’s stock worth $296,000 after acquiring an additional 11,599 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of KE by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock worth $1,170,000 after acquiring an additional 1,271 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of KE by 1,155.7% during the third quarter. Assenagon Asset Management S.A. now owns 2,353,268 shares of the company’s stock worth $46,854,000 after acquiring an additional 2,165,863 shares during the period. Finally, abrdn plc raised its stake in shares of KE by 24.5% in the third quarter. abrdn plc now owns 591,835 shares of the company’s stock valued at $11,869,000 after acquiring an additional 116,367 shares in the last quarter. 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.