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

Kanzhun Limited (NASDAQ:BZ) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 19,840,000 shares, an increase of 33.1% from the September 15th total of 14,910,000 shares. Approximately 6.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,240,000 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BZ shares. Daiwa America raised Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Barclays lowered their price objective on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kanzhun currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BZ. Atlas Capital Advisors LLC purchased a new stake in Kanzhun in the second quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in Kanzhun in the second quarter worth about $44,000. UMB Bank n.a. purchased a new stake in Kanzhun in the third quarter worth about $42,000. Blue Trust Inc. lifted its stake in Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after acquiring an additional 1,347 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Kanzhun in the second quarter worth about $204,000. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Trading Down 6.1 %

Shares of NASDAQ BZ traded down $0.98 during mid-day trading on Tuesday, reaching $15.12. The company had a trading volume of 5,826,409 shares, compared to its average volume of 4,191,781. The business’s 50-day moving average is $14.31 and its 200-day moving average is $17.38. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 38.13 and a beta of 0.52. Kanzhun has a 52 week low of $10.57 and a 52 week high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. As a group, equities research analysts forecast that Kanzhun will post 0.47 earnings per share for the current 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.