Short Interest in Kanzhun Limited (NASDAQ:BZ) Decreases By 11.8%

Kanzhun Limited (NASDAQ:BZ) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 13,360,000 shares, a decrease of 11.8% from the March 15th total of 15,150,000 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average daily volume of 3,410,000 shares, the short-interest ratio is currently 3.9 days.

Institutional Investors Weigh In On Kanzhun

Several hedge funds have recently made changes to their positions in the company. Employees Retirement System of Texas acquired a new position in Kanzhun in the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. increased its stake in Kanzhun by 67.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,922 shares of the company’s stock valued at $39,000 after buying an additional 772 shares during the period. 1832 Asset Management L.P. acquired a new position in Kanzhun in the 4th quarter valued at approximately $49,000. Tower Research Capital LLC TRC increased its stake in Kanzhun by 12,040.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,163 shares of the company’s stock valued at $119,000 after buying an additional 7,104 shares during the period. Finally, Shell Asset Management Co. increased its stake in Kanzhun by 256.5% in the 4th quarter. Shell Asset Management Co. now owns 8,200 shares of the company’s stock valued at $136,000 after buying an additional 5,900 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Trading Down 1.6 %

BZ stock traded down $0.29 on Tuesday, hitting $18.06. 2,021,146 shares of the company’s stock traded hands, compared to its average volume of 3,411,998. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 54.73 and a beta of 0.59. Kanzhun has a 1-year low of $12.57 and a 1-year high of $21.32. The stock has a fifty day moving average of $17.18 and a 200-day moving average of $16.00.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $222.57 million during the quarter, compared to the consensus estimate of $215.66 million. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. On average, equities research analysts anticipate that Kanzhun will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BZ shares. TheStreet upgraded shares of Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. New Street Research raised shares of Kanzhun from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.00 to $25.00 in a research note on Wednesday, March 13th. Macquarie raised shares of Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th. Finally, Barclays upped their price target on shares of Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Kanzhun has a consensus rating of “Moderate Buy” and an average target price of $20.38.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.