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

Kanzhun Limited (NASDAQ:BZ) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 17,760,000 shares, a drop of 6.7% from the October 15th total of 19,030,000 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average trading volume of 4,890,000 shares, the short-interest ratio is presently 3.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atlas Capital Advisors LLC bought a new stake in Kanzhun during the 2nd quarter worth approximately $25,000. UMB Bank n.a. purchased a new stake in Kanzhun in the 3rd quarter worth about $42,000. Summit Securities Group LLC purchased a new position in Kanzhun during the 2nd quarter valued at about $44,000. Van ECK Associates Corp purchased a new position in Kanzhun during the third quarter worth about $61,000. Finally, Blue Trust Inc. increased its stake 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 acquiring an additional 1,347 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

Kanzhun stock opened at $13.78 on Tuesday. Kanzhun has a 52 week low of $10.57 and a 52 week high of $22.74. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 32.05 and a beta of 0.55. The company has a 50 day moving average price of $14.92 and a 200 day moving average price of $16.67.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. Equities analysts forecast that Kanzhun will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Daiwa America upgraded Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Barclays lowered their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Daiwa Capital Markets downgraded shares of Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Finally, CLSA initiated coverage on Kanzhun in a research report on Monday. They issued an “outperform” rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Kanzhun presently has an average rating of “Moderate Buy” and an average target price of $22.50.

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.