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

Kanzhun Limited (NASDAQ:BZ) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 16,600,000 shares, a decline of 6.9% from the January 15th total of 17,830,000 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average trading volume of 3,840,000 shares, the short-interest ratio is currently 4.3 days.

Analysts Set New Price Targets

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

Institutional Trading of Kanzhun

A number of hedge funds and other institutional investors have recently modified their holdings of BZ. Nomura Asset Management Co. Ltd. grew its stake in shares of Kanzhun by 7,012.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after buying an additional 2,293,229 shares during the last quarter. Barclays PLC increased its holdings in shares of Kanzhun by 58.7% during the third quarter. Barclays PLC now owns 450,663 shares of the company’s stock valued at $7,824,000 after acquiring an additional 166,683 shares in the last quarter. Monolith Management Ltd bought a new position in shares of Kanzhun during the third quarter valued at $4,340,000. Union Bancaire Privee UBP SA bought a new position in Kanzhun in the 4th quarter worth about $333,000. Finally, WCM Investment Management LLC boosted its stake in Kanzhun by 109.3% in the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after purchasing an additional 1,649,411 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Price Performance

Shares of BZ opened at $15.65 on Wednesday. The company has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $14.29. The firm has a market capitalization of $5.96 billion, a PE ratio of 34.78 and a beta of 0.49. Kanzhun has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Analysts expect that Kanzhun will post 0.46 EPS for the current fiscal year.

Kanzhun Company Profile

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.