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

KE Holdings Inc. Sponsored ADR (NYSE:BEKE) gapped up before the market opened on Friday . The stock had previously closed at $17.73, but opened at $18.62. KE shares last traded at $18.49, with a volume of 5,006,405 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on BEKE. Morgan Stanley reaffirmed an “overweight” rating on shares of KE in a research report on Friday, August 21st. Barclays increased their target price on KE from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. UBS Group raised KE from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, May 12th. Zacks Research upgraded KE from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group raised KE from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $23.64.

KE Stock Performance

The stock’s 50-day moving average price is $16.32 and its 200 day moving average price is $16.56. The firm has a market cap of $20.79 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 0.68 and a beta of -0.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.30 and a quick ratio of 3.12.

KE (NYSE:BEKE) last released its earnings results on Friday, August 21st. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. KE had a net margin of 5.38% and a return on equity of 7.62%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.59 billion. As a group, equities analysts predict that KE Holdings Inc. Sponsored ADR will post 0.88 EPS for the current year.

Institutional Trading of KE

A number of hedge funds and other institutional investors have recently modified their holdings of BEKE. Nykredit A S bought a new stake in KE during the second quarter worth about $456,000. Wellington Management Group LLP grew its stake in KE by 16.0% in the second quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company’s stock valued at $129,536,000 after purchasing an additional 1,231,445 shares in the last quarter. Basecamp Wealth Advisors LLC grew its stake in KE by 9.1% in the first quarter. Basecamp Wealth Advisors LLC now owns 8,399 shares of the company’s stock valued at $126,000 after purchasing an additional 704 shares in the last quarter. Rovida Investment Management Ltd increased its position in shares of KE by 9.1% during the 1st quarter. Rovida Investment Management Ltd now owns 600,000 shares of the company’s stock worth $8,982,000 after purchasing an additional 50,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of KE by 37.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,647 shares of the company’s stock worth $85,000 after purchasing an additional 1,543 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.

About KE

KE Holdings Inc (NYSE: BEKE) is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.