Short Interest in Kanzhun Limited (NASDAQ:BZ) Decreases By 5.4%

Kanzhun Limited (NASDAQ:BZ) was the target of a significant drop in short interest in the month of 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. Approximately 4.8% of the company’s shares are sold short. Based on an average trading volume of 4,830,000 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in Kanzhun by 21.4% during the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after purchasing an additional 1,347 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Kanzhun by 12.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 584,510 shares of the company’s stock valued at $10,995,000 after acquiring an additional 63,843 shares during the period. Bank of New York Mellon Corp raised its stake in Kanzhun by 265.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,326,817 shares of the company’s stock worth $24,957,000 after acquiring an additional 964,110 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Kanzhun during the 2nd quarter worth about $772,000. Finally, Summit Securities Group LLC purchased a new stake in Kanzhun during the 2nd quarter valued at about $44,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Stock Performance

NASDAQ:BZ opened at $13.81 on Tuesday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 30.69 and a beta of 0.50. The company’s 50-day simple moving average is $14.58 and its 200-day simple moving average is $15.61. Kanzhun has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.48%. On average, research analysts forecast that Kanzhun will post 0.47 EPS for the current year.

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.