KE (NYSE:BEKE) Shares Gap Up - Here's What Happened

KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $18.26, but opened at $19.20. KE shares last traded at $19.02, with a volume of 2,241,497 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup lowered their price objective on KE from $25.80 to $24.80 and set a "buy" rating for the company in a research report on Friday, May 16th. Jefferies Financial Group reiterated a "buy" rating on shares of KE in a research report on Tuesday, March 18th. Morgan Stanley lifted their price objective on KE from $19.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 19th. Finally, UBS Group upgraded KE from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.16.

KE Stock Performance

The business has a 50-day simple moving average of $18.72 and a two-hundred day simple moving average of $19.33. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 34.89, a P/E/G ratio of 1.26 and a beta of -0.76.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BEKE. US Bancorp DE grew its position in KE by 42.3% in the fourth quarter. US Bancorp DE now owns 8,826 shares of the company's stock valued at $163,000 after acquiring an additional 2,623 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in KE by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,077,371 shares of the company's stock valued at $19,845,000 after buying an additional 82,856 shares during the period. PNC Financial Services Group Inc. lifted its stake in KE by 8.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company's stock valued at $173,000 after buying an additional 762 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in KE by 11.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 113,300 shares of the company's stock valued at $2,088,000 after buying an additional 12,000 shares during the period. Finally, Catalyst Funds Management Pty Ltd raised its position in shares of KE by 1,729.2% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 43,900 shares of the company's stock worth $809,000 after purchasing an additional 41,500 shares during the period. 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.