KE (NYSE:BEKE) Shares Gap Up – Still a Buy?

KE Holdings Inc. (NYSE:BEKE) gapped up before the market opened on Tuesday . The stock had previously closed at $17.10, but opened at $17.86. KE shares last traded at $17.23, with a volume of 2,181,578 shares changing hands.

Wall Street Analysts Forecast Growth

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

KE Trading Down 0.0 %

The stock has a market capitalization of $20.41 billion, a P/E ratio of 34.48, a price-to-earnings-growth ratio of 2.79 and a beta of -0.76. The company has a 50-day moving average price of $18.51 and a 200 day moving average price of $17.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BEKE. Allspring Global Investments Holdings LLC boosted its stake in KE by 2.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 58,758 shares of the company’s stock valued at $1,170,000 after acquiring an additional 1,271 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of KE in the 3rd quarter worth $30,000. Crossmark Global Holdings Inc. grew its stake in KE by 6.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 27,201 shares of the company’s stock worth $541,000 after buying an additional 1,692 shares during the last quarter. US Bancorp DE increased its position in KE by 41.6% during the 3rd quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after buying an additional 1,823 shares in the last quarter. Finally, Creative Planning raised its stake in 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 buying an additional 1,988 shares during 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.