KE (NYSE:BEKE) Trading 5.8% Higher – Time to Buy?

KE Holdings Inc. (NYSE:BEKE)’s stock price rose 5.8% on Monday . The stock traded as high as $19.06 and last traded at $18.97. Approximately 1,428,258 shares traded hands during trading, a decline of 78% from the average daily volume of 6,611,974 shares. The stock had previously closed at $17.92.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $28.00 in a research note on Wednesday, October 30th. Barclays lifted their price target on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th.

KE Stock Performance

The firm has a market capitalization of $23.55 billion, a PE ratio of 39.78, a P/E/G ratio of 2.95 and a beta of -0.76. The stock has a fifty day moving average price of $18.00 and a 200-day moving average price of $18.01.

Hedge Funds Weigh In On KE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. H Capital V GP L.P. acquired a new position in shares of KE during the fourth quarter worth $91,147,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in KE by 203.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,478,102 shares of the company’s stock worth $128,979,000 after buying an additional 4,340,517 shares during the last quarter. WT Asset Management Ltd increased its position in KE by 1,761.8% during the 4th quarter. WT Asset Management Ltd now owns 2,327,198 shares of the company’s stock valued at $42,867,000 after buying an additional 2,202,198 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in KE by 1,155.7% in the third quarter. Assenagon Asset Management S.A. now owns 2,353,268 shares of the company’s stock valued at $46,854,000 after buying an additional 2,165,863 shares during the last quarter. Finally, Carrhae Capital LLP acquired a new stake in KE in the fourth quarter worth about $32,156,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

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.