KE (NYSE:BEKE) Shares Gap Down – Should You Sell?

KE Holdings Inc. Sponsored ADR (NYSE:BEKE) shares gapped down prior to trading on Monday . The stock had previously closed at $18.32, but opened at $17.72. KE shares last traded at $17.6250, with a volume of 781,125 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BEKE. The Goldman Sachs Group upgraded KE from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, May 4th. Barclays upped their price objective on KE from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. CLSA assumed coverage on KE in a research report on Wednesday, August 19th. They set an “outperform” rating and a $23.80 price objective on the stock. UBS Group raised shares of KE from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, May 12th. Finally, Zacks Research raised shares of KE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.64.

KE Stock Performance

The firm has a market capitalization of $19.45 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.70 and a beta of -0.29. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $16.39 and its 200-day moving average is $16.55.

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

Hedge Funds Weigh In On KE

A number of institutional investors and hedge funds have recently bought and sold shares of BEKE. Norges Bank bought a new position in shares of KE during the fourth quarter valued at $112,843,000. Invesco Ltd. grew its stake 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 during the last quarter. Burkehill Global Management LP acquired a new stake in KE in the third quarter valued at $28,500,000. Amundi acquired a new stake in KE in the fourth quarter valued at $22,303,000. Finally, Bank of America Corp DE raised its position in 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 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.