Kanzhun (NASDAQ:BZ) Sees Strong Trading Volume – Time to Buy?

Kanzhun Limited (NASDAQ:BZ) saw unusually-strong trading volume on Wednesday . Approximately 1,353,739 shares changed hands during mid-day trading, a decline of 67% from the previous session’s volume of 4,086,739 shares.The stock last traded at $12.42 and had previously closed at $12.18.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays decreased their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. CLSA began coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kanzhun currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Kanzhun Trading Up 3.3 %

The stock’s 50 day moving average price is $15.05 and its two-hundred day moving average price is $16.26. The firm has a market capitalization of $4.77 billion, a PE ratio of 29.26 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last released its quarterly 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. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The company had revenue of $263.75 million during the quarter, compared to analysts’ expectations of $264.38 million. Analysts expect that Kanzhun Limited will post 0.47 earnings per share for the current year.

Institutional Trading of Kanzhun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC acquired a new stake in shares of Kanzhun during the 2nd quarter worth $25,000. Summit Securities Group LLC purchased a new position in shares of Kanzhun in the 2nd quarter worth about $44,000. UMB Bank n.a. acquired a new position in shares of Kanzhun in the 3rd quarter valued at about $42,000. Van ECK Associates Corp purchased a new stake in shares of Kanzhun during the 3rd quarter worth about $61,000. Finally, Blue Trust Inc. increased its position in 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 purchasing an additional 1,347 shares in the last quarter. Hedge funds and other institutional investors 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.