Kanzhun (NASDAQ:BZ) Shares Gap Down – Time to Sell?

Shares of Kanzhun Limited (NASDAQ:BZ) gapped down before the market opened on Monday . The stock had previously closed at $17.00, but opened at $16.45. Kanzhun shares last traded at $16.59, with a volume of 438,088 shares.

Analyst Ratings Changes

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

Kanzhun Trading Down 6.1 %

The stock’s 50-day simple moving average is $14.34 and its 200-day simple moving average is $17.36. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 38.77 and a beta of 0.52.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BZ. Atlas Capital Advisors LLC acquired a new position in Kanzhun during the second quarter valued at approximately $25,000. Blue Trust Inc. lifted its position in shares of Kanzhun by 21.4% during the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Kanzhun by 6.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock worth $565,000 after buying an additional 1,977 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Kanzhun in the second quarter valued at about $44,000. Finally, UMB Bank n.a. bought a new position in Kanzhun in the third quarter valued at about $42,000. Institutional investors own 60.67% of the company’s stock.

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.