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

Kanzhun Limited (NASDAQ:BZ) was the recipient of a significant increase in short interest in 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. Based on an average daily trading volume, of 5,240,000 shares, the days-to-cover ratio is presently 3.8 days. Approximately 6.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BZ shares. Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Finally, Barclays lowered their price target 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Hedge Funds Weigh In On Kanzhun

Large investors have recently bought and sold shares of the stock. Atlas Capital Advisors LLC bought a new stake in shares of Kanzhun during the second quarter valued at approximately $25,000. UMB Bank n.a. bought a new position in shares of Kanzhun during the third quarter valued at $42,000. Summit Securities Group LLC bought a new position in shares of Kanzhun during the second quarter valued at $44,000. Blue Trust Inc. lifted its holdings in shares of Kanzhun by 21.4% during the second 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. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Kanzhun during the second quarter valued at $204,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Performance

NASDAQ:BZ traded down $0.98 during mid-day trading on Tuesday, reaching $15.12. The stock had a trading volume of 5,826,409 shares, compared to its average volume of 4,191,781. The firm has a 50 day moving average price of $14.31 and a two-hundred day moving average price of $17.38. The stock has a market capitalization of $5.75 billion, a P/E ratio of 38.13 and a beta of 0.52. Kanzhun has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ) last released its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $263.75 million during the quarter, compared to the consensus estimate of $264.38 million. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. 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.