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

Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) shot 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 traded hands during mid-day trading, a decline of 90% from the average daily volume of 4,486,174 shares. The stock had previously closed at $17.19.

Analyst Ratings Changes

BEKE has been the topic of several analyst reports. Wall Street Zen upgraded shares of KE from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Zacks Research raised shares of KE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of KE in a report on Friday, August 21st. Citigroup restated a “buy” rating on shares of KE in a research report on Tuesday, May 19th. Finally, UBS Group raised KE from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $23.64.

KE Stock Up 1.1%

The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $16.56 and its two-hundred day moving average price is $16.54. The stock has a market cap of $20.07 billion, a P/E ratio of 29.40, a P/E/G ratio of 0.67 and a beta of -0.26.

KE (NYSE:BEKE) last posted its quarterly earnings results on Friday, August 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.59 billion. As a group, research analysts expect that KE Holdings Inc. Sponsored ADR will post 0.88 earnings per share for the current year.

Institutional Investors Weigh In On KE

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in KE during the fourth quarter valued at approximately $112,843,000. Invesco Ltd. boosted its holdings 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 acquiring 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 about $28,500,000. Amundi acquired a new stake in KE during the fourth quarter worth about $22,303,000. Finally, Bank of America Corp DE grew its stake in shares of KE by 76.3% during the 3rd quarter. Bank of America Corp DE now owns 3,067,917 shares of the company’s stock worth $58,290,000 after purchasing an additional 1,327,775 shares during the period. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

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.