KE (NYSE:BEKE) Sees Strong Trading Volume – Here’s Why

KE Holdings Inc. (NYSE:BEKE) shares saw strong trading volume on Tuesday . 5,174,092 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 4,330,149 shares.The stock last traded at $16.83 and had previously closed at $17.74.

Wall Street Analysts Forecast Growth

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

KE Stock Performance

The stock has a market capitalization of $20.09 billion, a PE ratio of 33.94, a P/E/G ratio of 4.76 and a beta of -0.76. The firm’s 50 day moving average is $19.51 and its two-hundred day moving average is $17.57.

Institutional Trading of KE

Several hedge funds have recently modified their holdings of BEKE. Point72 Asia Singapore Pte. Ltd. acquired a new position in KE during the 3rd quarter worth approximately $30,000. Rakuten Securities Inc. grew its stake in shares of KE by 334,500.0% during the third quarter. Rakuten Securities Inc. now owns 3,346 shares of the company’s stock worth $67,000 after purchasing an additional 3,345 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in KE by 5,089.9% in the third quarter. Venturi Wealth Management LLC now owns 4,100 shares of the company’s stock valued at $82,000 after buying an additional 4,021 shares during the last quarter. US Bancorp DE raised its stake in KE by 41.6% in the third quarter. US Bancorp DE now owns 6,203 shares of the company’s stock valued at $124,000 after buying an additional 1,823 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in KE during the 2nd quarter worth about $146,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

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.