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

Kanzhun Limited (NASDAQ:BZ) saw a significant decrease in short interest in 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. Based on an average daily volume of 3,410,000 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.0% of the company’s shares are short sold.

Institutional Trading of Kanzhun

Institutional investors have recently made changes to their positions in the company. Employees Retirement System of Texas purchased a new stake in shares of Kanzhun during the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. raised its position in Kanzhun by 67.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,922 shares of the company’s stock valued at $39,000 after purchasing an additional 772 shares during the period. 1832 Asset Management L.P. purchased a new stake in Kanzhun in the fourth quarter valued at approximately $49,000. National Pension Service raised its position in Kanzhun by 423.1% in the second quarter. National Pension Service now owns 6,800 shares of the company’s stock valued at $179,000 after purchasing an additional 5,500 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Kanzhun by 12,040.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,163 shares of the company’s stock valued at $119,000 after purchasing an additional 7,104 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Down 1.6 %

Shares of NASDAQ:BZ traded down $0.29 during trading on Tuesday, reaching $18.06. 2,021,146 shares of the company’s stock traded hands, compared to its average volume of 3,411,998. Kanzhun has a fifty-two week low of $12.57 and a fifty-two week high of $21.32. The firm has a market cap of $6.78 billion, a PE ratio of 54.73 and a beta of 0.59. The company has a 50-day simple moving average of $17.18 and a 200-day simple moving average of $16.00.

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

Wall Street Analysts Forecast Growth

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