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

KE Holdings Inc. (NYSE:BEKE) gapped down prior to trading on Thursday . The stock had previously closed at $21.93, but opened at $20.04. KE shares last traded at $19.34, with a volume of 2,865,167 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup assumed coverage on KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price target for the company. Bank of America raised their price target on KE from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.90.

KE Price Performance

The firm has a market cap of $26.02 billion, a price-to-earnings ratio of 51.46, a P/E/G ratio of 4.76 and a beta of -0.71. The firm has a fifty day simple moving average of $17.23 and a two-hundred day simple moving average of $15.95.

KE (NYSE:BEKE) last released its earnings results on Monday, August 12th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $2.06. KE had a return on equity of 6.74% and a net margin of 5.32%. The firm had revenue of $23.37 billion during the quarter, compared to the consensus estimate of $21.51 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue was up 19.9% compared to the same quarter last year. Equities analysts anticipate that KE Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KE

Institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. raised its position in KE by 5.1% during the second quarter. QRG Capital Management Inc. now owns 14,040 shares of the company’s stock valued at $199,000 after acquiring an additional 683 shares in the last quarter. Signaturefd LLC raised its position in KE by 12.5% during the second quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock valued at $110,000 after acquiring an additional 866 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in KE by 2.2% during 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. Creative Planning raised its position in KE by 7.1% during the third quarter. Creative Planning now owns 30,002 shares of the company’s stock valued at $597,000 after acquiring an additional 1,988 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in KE by 25.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,606 shares of the company’s stock valued at $201,000 after acquiring an additional 2,939 shares in the last quarter. Institutional investors and hedge funds 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.