KE (NYSE:BEKE) Shares Gap Up - What's Next?

Key Points

• KE Holdings (NYSE:BEKE) gapped up before trading, opening at $16.84 versus a prior close of $16.10 and last trading around $17.33.
• Recent analyst actions have been mostly positive, including upgrades and higher price targets from firms like Goldman Sachs and Barclays. The stock currently has a Moderate Buy consensus with an average target price of $23.07.
• Institutional investors have been adding to their positions, with firms such as Invesco significantly increasing holdings. The company also shows a strong balance sheet, with very low debt and healthy liquidity ratios.

KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $16.10, but opened at $16.84. KE shares last traded at $17.3250, with a volume of 924,419 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BEKE shares. Citigroup reaffirmed a "buy" rating on shares of KE in a research report on Tuesday, May 19th. The Goldman Sachs Group upgraded KE from a "neutral" rating to a "buy" rating and set a $21.00 price objective for the company in a research report on Monday, May 4th. Weiss Ratings reissued a "hold (c)" rating on shares of KE in a research note on Wednesday, June 24th. Griffin Securities set a $24.40 target price on shares of KE in a report on Wednesday, April 8th. Finally, Barclays lifted their price target on shares of KE from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.07.

KE Stock Performance

The stock has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $16.65. The stock has a market cap of $19.42 billion, a P/E ratio of 41.16 and a beta of -0.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.12 and a current ratio of 3.12.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BEKE. Royal Bank of Canada lifted its stake in KE by 73.3% in the 1st quarter. Royal Bank of Canada now owns 467,520 shares of the company's stock valued at $9,392,000 after acquiring an additional 197,734 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of KE by 21.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,011 shares of the company's stock valued at $201,000 after purchasing an additional 1,797 shares during the last quarter. Strs Ohio acquired a new stake in shares of KE in the first quarter valued at approximately $44,000. Quantbot Technologies LP bought a new stake in shares of KE in the second quarter worth $116,000. Finally, Invesco Ltd. lifted its position in shares of KE by 197.8% in the second quarter. Invesco Ltd. now owns 2,421,452 shares of the company's stock worth $42,957,000 after purchasing an additional 1,608,207 shares in the last quarter. 39.34% of the stock is currently owned by institutional investors.

KE Company Profile

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

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