Kanzhun (NASDAQ:BZ) Shares Gap Down – What’s Next?

Kanzhun Limited (NASDAQ:BZ)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.56, but opened at $19.59. Kanzhun shares last traded at $20.29, with a volume of 870,135 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on BZ. Barclays increased their target price on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Citigroup reduced their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $18.00 target price on shares of Kanzhun in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Kanzhun Trading Down 1.5 %

The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 44.40 and a beta of 0.46. The stock has a 50-day moving average of $16.17 and a 200-day moving average of $14.93.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its position in Kanzhun by 403.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock worth $25,000 after acquiring an additional 1,427 shares during the period. PNC Financial Services Group Inc. boosted its position in Kanzhun by 107.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after acquiring an additional 1,542 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in Kanzhun during the 4th quarter worth $63,000. Townsquare Capital LLC acquired a new position in Kanzhun during the 4th quarter worth $157,000. Finally, Tudor Investment Corp ET AL acquired a new position in Kanzhun during the 4th quarter worth $160,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.