Kanzhun Limited (NASDAQ:BZ) Short Interest Up 8.1% in January

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

Kanzhun Trading Up 2.2 %

NASDAQ:BZ traded up $0.31 during midday trading on Monday, hitting $14.72. 2,980,875 shares of the company traded hands, compared to its average volume of 2,887,751. The firm has a market capitalization of $5.61 billion, a P/E 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. The firm’s fifty day moving average is $13.94 and its 200-day moving average is $14.21.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, topping 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%. On average, research analysts expect that Kanzhun will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Kanzhun

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Kanzhun by 812.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock valued at $123,607,000 after buying an additional 6,339,911 shares during the last quarter. State Street Corp boosted its stake in Kanzhun by 2.8% in the 3rd quarter. State Street Corp now owns 5,084,631 shares of the company’s stock worth $88,269,000 after purchasing an additional 138,804 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Kanzhun by 2.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company’s stock worth $52,136,000 after purchasing an additional 78,697 shares in the last quarter. Tekne Capital Management LLC raised its holdings in shares of Kanzhun by 16.0% during the third quarter. Tekne Capital Management LLC now owns 3,482,903 shares of the company’s stock worth $60,463,000 after acquiring an additional 480,083 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Kanzhun by 79.7% during the 4th quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock valued at $45,952,000 after purchasing an additional 1,476,693 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. CLSA assumed coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price objective for the company. Citigroup dropped 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 downgraded 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 report on Monday, December 9th. Four equities research 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, Kanzhun has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.