Short Interest in Kanzhun Limited (NASDAQ:BZ) Grows By 33.1%

Kanzhun Limited (NASDAQ:BZ) was the target of a large increase in short interest during 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. Currently, 6.0% of the company’s stock are short sold. Based on an average daily volume of 5,240,000 shares, the short-interest ratio is presently 3.8 days.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BZ shares. Barclays lowered their price objective on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Daiwa America upgraded Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Hedge Funds Weigh In On Kanzhun

A number of hedge funds have recently made changes to their positions in BZ. Atlas Capital Advisors LLC purchased a new position in Kanzhun in the 2nd quarter worth approximately $25,000. UMB Bank n.a. acquired a new stake in shares of Kanzhun in the third quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new position in Kanzhun during the second quarter worth approximately $44,000. Blue Trust Inc. lifted its position in Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Kanzhun during the second quarter worth about $204,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Price Performance

BZ stock traded up $0.06 during mid-day trading on Friday, reaching $17.00. 3,167,502 shares of the company’s stock were exchanged, compared to its average volume of 4,180,829. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 43.59 and a beta of 0.52. Kanzhun has a 12-month low of $10.57 and a 12-month high of $22.74. The stock’s 50 day moving average is $14.26 and its 200 day moving average is $17.39.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. On average, research analysts forecast that Kanzhun will post 0.47 earnings per share for the current fiscal 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.