Kanzhun (NASDAQ:BZ) Stock Price Down 4.6% – Here’s Why

Kanzhun Limited (NASDAQ:BZ)’s share price fell 4.6% during trading on Monday . The stock traded as low as $13.85 and last traded at $13.91. 520,514 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 4,193,361 shares. The stock had previously closed at $14.58.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. CLSA assumed coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Citigroup cut 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. Finally, Barclays upped their price target on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Kanzhun presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock Up 0.7 %

The firm has a market capitalization of $5.27 billion, a PE ratio of 30.91 and a beta of 0.50. The business’s fifty day moving average price is $14.40 and its 200 day moving average price is $15.51.

Kanzhun (NASDAQ:BZ) last posted its quarterly 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%. As a group, sell-side analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kanzhun

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after acquiring an additional 1,347 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 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 purchasing an additional 63,843 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Kanzhun by 265.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock valued at $24,957,000 after buying an additional 964,110 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Kanzhun during the second quarter worth approximately $772,000. Finally, Summit Securities Group LLC acquired a new stake in Kanzhun in the second quarter valued at $44,000. 60.67% of the stock is owned by institutional investors and hedge funds.

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.