KE (NYSE:BEKE) Shares Up 5.6% – Here’s What Happened

KE Holdings Inc. (NYSE:BEKE)’s stock price traded up 5.6% during mid-day trading on Tuesday . The company traded as high as $21.53 and last traded at $21.52. Approximately 1,770,120 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 7,736,811 shares. The stock had previously closed at $20.38.

Wall Street Analysts Forecast Growth

BEKE has been the topic of several recent analyst reports. Bank of America raised KE from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th. Barclays raised their target price on KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th.

KE Trading Up 5.2 %

The stock has a market capitalization of $25.91 billion, a P/E ratio of 43.81, a P/E/G ratio of 3.45 and a beta of -0.76. The firm’s fifty day moving average is $18.13 and its 200-day moving average is $18.44.

Institutional Trading of KE

Several large investors have recently made changes to their positions in BEKE. Central Asset Investments & Management Holdings HK Ltd acquired a new position in KE during the 3rd quarter valued at about $1,124,000. XTX Topco Ltd grew its holdings in KE by 324.8% during the 3rd quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock worth $2,345,000 after acquiring an additional 90,054 shares during the period. TT International Asset Management LTD bought a new stake in shares of KE during the 4th quarter valued at $717,000. Headwater Capital Co Ltd acquired a new position in shares of KE in the 4th quarter valued at $11,052,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in KE by 5.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,583,585 shares of the company’s stock valued at $31,529,000 after acquiring an additional 76,517 shares in the last quarter. 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.