KE (NYSE:BEKE) Shares Gap Down – Time to Sell?

Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) 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

BEKE has been the topic of a number of recent analyst reports. CLSA started coverage on KE in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $23.80 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of KE in a report on Wednesday, June 24th. Morgan Stanley restated an “overweight” rating on shares of KE in a research report on Friday, August 21st. Zacks Research raised shares of KE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Finally, Citigroup reaffirmed a “buy” rating on shares of KE in a research note on Tuesday, May 19th. 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 stock. Based on data from MarketBeat, KE presently has an average rating of “Buy” and an average price target of $23.64.

KE Stock Performance

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

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

Institutional Investors Weigh In On KE

Several hedge funds and other institutional investors have recently bought and sold shares of BEKE. Norges Bank bought a new stake in KE in the 4th quarter valued at about $112,843,000. Invesco Ltd. boosted its holdings in 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 acquiring an additional 1,608,207 shares in the last quarter. Burkehill Global Management LP bought a new position in KE in the third quarter worth approximately $28,500,000. Amundi acquired a new stake in KE in the fourth quarter valued at approximately $22,303,000. Finally, Bank of America Corp DE grew its stake 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 period. 39.34% of the stock is owned by 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.