Kanzhun (NASDAQ:BZ) Shares Down 5.5% – Time to Sell?

Kanzhun Limited (NASDAQ:BZ) dropped 5.5% during mid-day trading on Tuesday . The stock traded as low as $14.45 and last traded at $14.49. Approximately 830,064 shares changed hands during trading, a decline of 80% from the average daily volume of 4,119,148 shares. The stock had previously closed at $15.34.

Analysts Set New Price Targets

BZ has been the topic of several research reports. Citigroup reduced their price target 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. Barclays upped their price target on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday. CLSA assumed coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price on the stock. Finally, Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and cut their target price for the company from $19.00 to $15.00 in a research report on Monday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock Performance

The firm has a fifty day simple moving average of $14.90 and a 200-day simple moving average of $15.79. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 33.14 and a beta of 0.50.

Institutional Investors Weigh In On Kanzhun

Several hedge funds have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. increased its position in Kanzhun by 5.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock worth $241,000 after buying an additional 759 shares during the period. Atlas Capital Advisors LLC bought a new position in shares of Kanzhun in the second quarter worth $25,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 1,347 shares during the period. Summit Securities Group LLC bought a new position in shares of Kanzhun in the second quarter worth $44,000. Finally, UMB Bank n.a. bought a new position in shares of Kanzhun in the third quarter worth $42,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

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.