KE (NYSE:BEKE) Shares Gap Up – Should You Buy?

KE Holdings Inc. (NYSE:BEKE) shares gapped up prior to trading 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.

Wall Street Analysts Forecast Growth

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

KE Stock Performance

The company has a fifty day moving average of $18.64 and a two-hundred day moving average of $17.67. The company has a market cap of $20.75 billion, a price-to-earnings ratio of 35.08, a P/E/G ratio of 2.82 and a beta of -0.76.

Institutional Trading of KE

Several institutional investors have recently made changes to their positions in BEKE. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of KE during the 3rd quarter valued at $30,000. Rakuten Securities Inc. raised its position in KE by 334,500.0% in the 3rd quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock worth $67,000 after purchasing an additional 3,345 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of KE by 5,089.9% during the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after purchasing an additional 4,021 shares during the period. US Bancorp DE raised 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 purchasing an additional 1,823 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of KE in the 2nd quarter worth about $146,000. 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.