Kanzhun Limited (NASDAQ:BZ) Short Interest Update

Kanzhun Limited (NASDAQ:BZ) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 8,630,000 shares, a drop of 9.1% from the August 15th total of 9,490,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 4,140,000 shares, the short-interest ratio is presently 2.1 days.

Institutional Trading of Kanzhun

Several large investors have recently modified their holdings of the company. Atlas Capital Advisors LLC acquired a new position in Kanzhun during the 2nd quarter valued at $25,000. Blue Trust Inc. boosted its position in Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock worth $565,000 after buying an additional 1,977 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Kanzhun during the second quarter worth approximately $44,000. Finally, DNB Asset Management AS raised its stake in shares of Kanzhun by 21.7% in the second quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock valued at $330,000 after acquiring an additional 3,123 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

Kanzhun Price Performance

Shares of NASDAQ BZ traded down $0.34 during trading hours on Wednesday, hitting $12.10. 1,574,456 shares of the stock were exchanged, compared to its average volume of 3,883,778. The company’s 50 day moving average is $13.92 and its 200 day moving average is $17.62. The firm has a market capitalization of $4.60 billion, a P/E ratio of 31.03 and a beta of 0.47. Kanzhun has a one year low of $10.57 and a one year high of $22.74.

Analysts Set New Price Targets

BZ has been the subject of several research reports. Daiwa Capital Markets lowered shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. UBS Group upped their price target on shares of Kanzhun from $22.00 to $23.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Barclays reduced their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. HSBC started coverage on shares of Kanzhun in a report on Friday, May 24th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kanzhun presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

About Kanzhun

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.