KE (NYSE:BEKE) Trading Down 6.7% - Here's What Happened

KE Holdings Inc. (NYSE:BEKE - Get Free Report) fell 6.7% during trading on Monday . The stock traded as low as $23.98 and last traded at $24.06. 8,851,859 shares changed hands during trading, a decline of 2% from the average session volume of 9,050,945 shares. The stock had previously closed at $25.80.

Analyst Upgrades and Downgrades

Separately, Citigroup started coverage on KE in a research note on Tuesday, September 10th. They issued a "buy" rating and a $23.80 price target on the stock.

KE Trading Down 8.2 %

The company has a market capitalization of $29.20 billion, a PE ratio of 58.24, a P/E/G ratio of 3.40 and a beta of -0.71. The stock has a fifty day simple moving average of $15.60 and a 200-day simple moving average of $15.42.

KE (NYSE:BEKE - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping 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 business had revenue of $23.37 billion during the quarter, compared to the consensus estimate of $21.51 billion. During the same quarter in the previous year, the firm earned $0.17 EPS. The company's revenue was up 19.9% compared to the same quarter last year. As a group, equities research analysts predict that KE Holdings Inc. will post 0.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in 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 acquiring an additional 3,168 shares during the period. Barometer Capital Management Inc. acquired a new position in KE during the fourth quarter worth $123,000. Signaturefd LLC boosted its position in KE by 12.5% during the second quarter. Signaturefd LLC now owns 7,781 shares of the company's stock worth $110,000 after purchasing an additional 866 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of KE in the second quarter valued at $146,000. Finally, QRG Capital Management Inc. boosted its position in shares of KE by 11.3% in the 1st quarter. QRG Capital Management Inc. now owns 13,357 shares of the company's stock worth $183,000 after buying an additional 1,360 shares in the last quarter. 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.

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