Kanzhun Limited (NASDAQ:BZ) Sees Large Decrease in Short Interest

Kanzhun Limited (NASDAQ:BZ) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 16,590,000 shares, a decline of 5.4% from the November 15th total of 17,530,000 shares. Based on an average trading volume of 4,830,000 shares, the short-interest ratio is presently 3.4 days. Approximately 4.8% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

BZ has been the subject of several research reports. CLSA assumed coverage on shares of Kanzhun in a research report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective for the company. Barclays raised their price target on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $19.00 to $15.00 in a research report on Monday, December 9th. Finally, Citigroup decreased their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Institutional Trading of Kanzhun

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in shares of 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 during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Kanzhun by 12.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 584,510 shares of the company’s stock valued at $10,995,000 after acquiring an additional 63,843 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Kanzhun by 265.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock worth $24,957,000 after purchasing an additional 964,110 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Kanzhun in the 2nd quarter worth $772,000. Finally, Summit Securities Group LLC bought a new position in Kanzhun during the 2nd quarter worth about $44,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Stock Down 1.8 %

Shares of BZ stock opened at $13.66 on Thursday. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The firm has a fifty day moving average of $14.40 and a 200-day moving average of $15.51. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 30.36 and a beta of 0.50.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a return on equity of 10.48% and a net margin of 20.65%. Research analysts expect that Kanzhun will post 0.47 earnings per share for the current year.

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.