KE (NYSE:BEKE) Shares Up 4.1% – Here’s What Happened

Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) traded up 4.1% during mid-day trading on Tuesday . The company traded as high as $17.87 and last traded at $17.8920. Approximately 433,761 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 4,486,174 shares. The stock had previously closed at $17.19.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BEKE shares. Citigroup reiterated a “buy” rating on shares of KE in a research note on Tuesday, May 19th. Zacks Research raised shares of KE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. The Goldman Sachs Group upgraded shares of KE from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Monday, May 4th. UBS Group upgraded shares of KE from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of KE from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.64.

KE Trading Up 3.5%

The company has a 50-day moving average price of $16.44 and a 200-day moving average price of $16.54. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 0.70 and a beta of -0.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.30 and a current ratio of 3.30.

KE (NYSE:BEKE) last issued its earnings results on Friday, August 21st. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.11. KE had a return on equity of 7.62% and a net margin of 5.38%.The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.59 billion. As a group, research analysts forecast that KE Holdings Inc. Sponsored ADR will post 0.88 EPS for the current fiscal year.

Institutional Trading of KE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEKE. Norges Bank purchased a new stake in shares of KE during the 4th quarter worth approximately $112,843,000. Invesco Ltd. grew its position in shares of KE by 197.8% in the 2nd quarter. Invesco Ltd. now owns 2,421,452 shares of the company’s stock valued at $42,957,000 after buying an additional 1,608,207 shares during the last quarter. Burkehill Global Management LP acquired a new stake in KE during the 3rd quarter worth $28,500,000. Amundi acquired a new stake in KE during the 4th quarter worth $22,303,000. Finally, Bank of America Corp DE lifted its position in KE by 76.3% in the third quarter. Bank of America Corp DE now owns 3,067,917 shares of the company’s stock valued at $58,290,000 after acquiring an additional 1,327,775 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.

About KE

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.