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

Kanzhun Limited (NASDAQ:BZ) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 17,880,000 shares, a growth of 8.1% from the December 31st total of 16,540,000 shares. Based on an average daily volume of 3,940,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 5.2% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Kanzhun Price Performance

Shares of BZ traded up $0.31 on Monday, reaching $14.72. 2,980,875 shares of the stock traded hands, compared to its average volume of 2,887,751. The stock’s 50-day moving average price is $13.94 and its 200-day moving average price is $14.21. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 32.71 and a beta of 0.49. Kanzhun has a 12 month low of $10.57 and a 12 month high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. As a group, equities research analysts forecast that Kanzhun will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of Kanzhun

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Kanzhun by 9.3% in the fourth quarter. Rhumbline Advisers now owns 24,185 shares of the company’s stock valued at $334,000 after purchasing an additional 2,066 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Kanzhun by 10.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 42,263 shares of the company’s stock valued at $586,000 after purchasing an additional 4,000 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Kanzhun by 86.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,068,555 shares of the company’s stock worth $41,855,000 after acquiring an additional 1,419,579 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kanzhun by 112.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company’s stock worth $2,769,000 after purchasing an additional 106,226 shares during the last quarter. Finally, abrdn plc lifted its holdings in Kanzhun by 7.0% in the fourth quarter. abrdn plc now owns 204,520 shares of the company’s stock valued at $2,832,000 after buying an additional 13,452 shares during the period. 60.67% of the stock is owned by institutional investors.

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.