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

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $22.26, but opened at $21.36. KE shares last traded at $21.08, with a volume of 4,044,480 shares changing hands.

Analyst Ratings Changes

Separately, Citigroup started coverage on KE in a research note on Tuesday, September 10th. They set a “buy” rating and a $23.80 price objective on the stock.

KE Stock Performance

The firm’s 50 day moving average price is $15.98 and its two-hundred day moving average price is $15.56. The firm has a market cap of $26.63 billion, a PE ratio of 51.41, a PEG ratio of 3.40 and a beta of -0.71.

KE (NYSE:BEKE) last issued its quarterly earnings data on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $2.06. KE had a net margin of 5.32% and a return on equity of 6.74%. The firm had revenue of $23.37 billion for the quarter, compared to analyst estimates of $21.51 billion. During the same period in the previous year, the firm earned $0.17 EPS. KE’s revenue was up 19.9% on a year-over-year basis. On average, analysts forecast that KE Holdings Inc. will post 0.68 earnings per share for the current year.

Institutional Investors Weigh In On KE

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. grew its position in KE by 2,662.2% in the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after acquiring an additional 3,168 shares in the last quarter. Barometer Capital Management Inc. acquired a new position in shares of KE in the fourth quarter valued at approximately $123,000. Signaturefd LLC increased its stake 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. Vanguard Personalized Indexing Management LLC acquired a new stake in KE during the 2nd quarter worth approximately $146,000. Finally, QRG Capital Management Inc. boosted its position in KE by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 13,357 shares of the company’s stock valued at $183,000 after buying an additional 1,360 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Company Profile

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.