Kanzhun Limited (NASDAQ:BZ) Sees Significant Drop in Short Interest

Kanzhun Limited (NASDAQ:BZ) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 17,760,000 shares, a decrease of 6.7% from the October 15th total of 19,030,000 shares. Based on an average daily volume of 4,890,000 shares, the short-interest ratio is currently 3.6 days. Currently, 5.4% of the company’s stock are sold short.

Kanzhun Price Performance

NASDAQ BZ opened at $13.44 on Monday. Kanzhun has a 1 year low of $10.57 and a 1 year high of $22.74. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 31.26 and a beta of 0.55. The stock’s fifty day moving average price is $14.92 and its 200 day moving average price is $16.69.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th. CLSA assumed coverage on Kanzhun in a research report on Monday. They set an “outperform” rating and a $18.00 price target on the stock. Barclays reduced their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Institutional Investors Weigh In On Kanzhun

Several hedge funds have recently added to or reduced their stakes in BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 purchasing an additional 6,339,911 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Kanzhun during the 3rd quarter worth about $64,220,000. National Bank of Canada FI purchased a new stake in shares of Kanzhun during the 3rd quarter worth about $45,482,000. RWC Asset Advisors US LLC boosted its stake in shares of Kanzhun by 79.8% during the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after acquiring an additional 2,529,725 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Kanzhun by 7,012.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after acquiring an additional 2,293,229 shares in the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

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.