Wall Street Zen Downgrades KE (NYSE:BEKE) to Hold

KE (NYSE:BEKE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts also recently issued reports on the stock. UBS Group upgraded shares of KE from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, May 12th. Barclays lifted their price target on shares of KE from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Citigroup reissued a “buy” rating on shares of KE in a research note on Tuesday, May 19th. Weiss Ratings restated a “hold (c)” rating on shares of KE in a report on Wednesday, June 24th. Finally, Griffin Securities set a $24.40 price objective on shares of KE in a report on Wednesday, April 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.07.

KE Price Performance

KE stock opened at $16.93 on Friday. The business’s 50-day simple moving average is $15.98 and its 200 day simple moving average is $16.66. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.01. The stock has a market cap of $18.94 billion, a price-to-earnings ratio of 40.32 and a beta of -0.29. KE has a 12-month low of $13.81 and a 12-month high of $20.98.

Hedge Funds Weigh In On KE

Hedge funds have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd bought a new position in KE during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of KE by 330.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,280 shares of the company’s stock valued at $36,000 after acquiring an additional 1,750 shares during the last quarter. Strs Ohio acquired a new stake in shares of KE in the 1st quarter valued at approximately $44,000. Allworth Financial LP raised its position in shares of KE by 254.4% in the 4th quarter. Allworth Financial LP now owns 2,910 shares of the company’s stock valued at $46,000 after acquiring an additional 2,089 shares during the period. Finally, Franchise GP Ltd acquired a new stake in shares of KE in the 4th quarter valued at approximately $63,000. 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.