Kanzhun Limited (NASDAQ:BZ) Short Interest Down 5.4% in November

Kanzhun Limited (NASDAQ:BZ) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 16,590,000 shares, a drop of 5.4% from the November 15th total of 17,530,000 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 4,830,000 shares, the short-interest ratio is presently 3.4 days.

Institutional Investors Weigh In On Kanzhun

A number of hedge funds and other institutional investors have recently modified their holdings of BZ. Nomura Asset Management Co. Ltd. raised its holdings in Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after purchasing an additional 2,293,229 shares in the last quarter. Monolith Management Ltd acquired a new position in shares of Kanzhun during the 3rd quarter valued at $4,340,000. WCM Investment Management LLC raised its stake in shares of 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 buying an additional 1,649,411 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Kanzhun by 128.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 73,408 shares of the company’s stock valued at $1,377,000 after buying an additional 41,342 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Kanzhun during the second quarter valued at about $772,000. 60.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Kanzhun Trading Up 0.7 %

NASDAQ BZ opened at $13.91 on Wednesday. The company has a 50-day moving average price of $14.47 and a two-hundred day moving average price of $15.56. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 30.91 and a beta of 0.50. Kanzhun has a 52 week low of $10.57 and a 52 week high of $22.74.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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, equities research analysts expect that Kanzhun will post 0.47 earnings per share 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.