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

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $20.23, but opened at $19.25. KE shares last traded at $20.28, with a volume of 2,868,294 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th. Citigroup began coverage on KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price target on the stock.

KE Stock Down 0.1 %

The firm has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $17.09. The stock has a market cap of $24.71 billion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 4.53 and a beta of -0.73.

Hedge Funds Weigh In On KE

Institutional investors and hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its stake in KE by 25.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,606 shares of the company’s stock worth $201,000 after purchasing an additional 2,939 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in KE by 29.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 955,669 shares of the company’s stock worth $13,120,000 after purchasing an additional 217,376 shares during the last quarter. Capital World Investors raised its position in KE by 5.8% during the 1st quarter. Capital World Investors now owns 14,666,625 shares of the company’s stock worth $201,373,000 after purchasing an additional 804,773 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in KE by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock worth $526,734,000 after acquiring an additional 4,736,152 shares during the period. Finally, Sylebra Capital LLC grew its holdings in KE by 0.8% during the 1st quarter. Sylebra Capital LLC now owns 1,507,462 shares of the company’s stock worth $20,697,000 after acquiring an additional 11,962 shares during the period. 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.