Short Interest in Kanzhun Limited (NASDAQ:BZ) Decreases By 6.7%

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

Kanzhun Price Performance

Kanzhun stock opened at $13.59 on Wednesday. The firm has a market cap of $5.15 billion, a P/E ratio of 31.63 and a beta of 0.55. The stock’s 50 day moving average is $14.95 and its 200 day moving average is $16.62. Kanzhun has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates 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. Equities analysts anticipate that Kanzhun will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. CLSA began coverage on shares of Kanzhun in a research report on Monday. They set an “outperform” rating and a $18.00 price objective for the company. Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Daiwa America upgraded Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays dropped their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Kanzhun by 31.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock valued at $2,634,000 after acquiring an additional 35,700 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Kanzhun by 1.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 329,341 shares of the company’s stock valued at $6,028,000 after purchasing an additional 6,203 shares during the period. Vanguard Group Inc. raised its holdings in shares of Kanzhun by 1.6% during the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock valued at $225,711,000 after purchasing an additional 203,594 shares during the period. Thornburg Investment Management Inc. acquired a new stake in shares of Kanzhun in the 1st quarter valued at about $25,967,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Kanzhun by 4.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 529,316 shares of the company’s stock worth $9,277,000 after acquiring an additional 23,952 shares in the last quarter. 60.67% of the stock is owned by 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.