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

KE Holdings Inc. Sponsored ADR (NYSE:BEKE) shares gapped down before the market opened on Monday . The stock had previously closed at $18.32, but opened at $17.72. KE shares last traded at $17.6250, with a volume of 781,125 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. CLSA assumed coverage on KE in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $23.80 target price on the stock. UBS Group raised KE from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, May 12th. Wall Street Zen upgraded KE from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley reaffirmed an “overweight” rating on shares of KE in a research note on Friday, August 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KE in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $23.64.

KE Stock Up 3.1%

The firm’s 50 day moving average is $16.49 and its 200-day moving average is $16.54. The firm has a market cap of $19.83 billion, a PE ratio of 29.05, a P/E/G ratio of 0.65 and a beta of -0.26. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On KE

A number of hedge funds and other institutional investors have recently made changes to their positions in BEKE. Nykredit A S purchased a new position in KE during the second quarter worth about $456,000. Wellington Management Group LLP boosted its stake in KE by 16.0% in the 2nd quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company’s stock worth $129,536,000 after buying an additional 1,231,445 shares during the last quarter. Basecamp Wealth Advisors LLC grew its holdings in KE by 9.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 8,399 shares of the company’s stock valued at $126,000 after buying an additional 704 shares during the period. Rovida Investment Management Ltd increased its stake 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 valued at $8,982,000 after acquiring an additional 50,000 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake 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 valued at $85,000 after acquiring an additional 1,543 shares during the last quarter. Hedge funds and other institutional investors 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.