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

KE Holdings Inc. (NYSE:BEKE) gapped down prior to trading on Thursday . The stock had previously closed at $19.98, but opened at $19.34. KE shares last traded at $19.12, with a volume of 1,651,420 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BEKE. Bank of America raised KE from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $28.00 in a research note on Wednesday, October 30th. Citigroup assumed coverage on shares of KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 target price on the stock.

KE Stock Performance

The company has a 50-day moving average price of $19.84 and a 200-day moving average price of $17.00. The firm has a market capitalization of $23.86 billion, a P/E ratio of 40.67, a price-to-earnings-growth ratio of 4.39 and a beta of -0.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in KE during the third quarter worth about $30,000. Blue Trust Inc. raised its position in shares of KE by 2,662.2% during the second quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 3,168 shares during the period. Rakuten Securities Inc. grew its position in shares of KE by 334,500.0% in the 3rd quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock valued at $67,000 after purchasing an additional 3,345 shares during the period. Venturi Wealth Management LLC increased its stake in KE by 5,089.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock worth $82,000 after purchasing an additional 4,021 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in KE by 12.5% during the 2nd quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock worth $110,000 after buying an additional 866 shares during the period. Institutional investors and hedge funds 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.