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

Kanzhun Limited (NASDAQ:BZ) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 17,880,000 shares, an increase of 8.1% from the December 15th total of 16,540,000 shares. Based on an average trading volume of 3,940,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 5.2% of the shares of the company are short sold.

Kanzhun Trading Up 6.0 %

BZ traded up $0.83 on Friday, hitting $14.69. 2,625,870 shares of the company’s stock traded hands, compared to its average volume of 3,141,024. The company’s 50 day simple moving average is $13.70 and its 200-day simple moving average is $14.49. Kanzhun has a one year low of $10.57 and a one year high of $22.74. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 32.65 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. As a group, equities analysts anticipate that Kanzhun will post 0.46 EPS for the current fiscal year.

Institutional Trading of Kanzhun

Several hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Kanzhun by 812.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock worth $123,607,000 after acquiring an additional 6,339,911 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Kanzhun during the third quarter valued at $64,220,000. National Bank of Canada FI bought a new position in Kanzhun during the third quarter valued at $45,482,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Kanzhun by 7,012.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock worth $40,378,000 after buying an additional 2,293,229 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Kanzhun by 109.3% in the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after buying an additional 1,649,411 shares during the last quarter. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Analyst Upgrades and Downgrades

BZ has been the subject of several recent research reports. CLSA began coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Barclays raised their target price on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Citigroup reduced their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, Sanford C. Bernstein downgraded Kanzhun from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $19.00 to $15.00 in a research note on Monday, December 9th. 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 stock presently has an average rating of “Moderate Buy” and an average price target of $21.00.

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.