Kanzhun (NASDAQ:BZ) Sees Large Volume Increase – Here’s What Happened

Kanzhun Limited (NASDAQ:BZ) saw an uptick in trading volume on Tuesday . 2,415,620 shares changed hands during trading, a decline of 16% from the previous session’s volume of 2,888,078 shares.The stock last traded at $14.04 and had previously closed at $13.33.

Analysts Set New Price Targets

A number of brokerages have issued reports on BZ. Sanford C. Bernstein lowered shares of Kanzhun from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. CLSA assumed coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 target price on the stock. Citigroup decreased their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, Barclays increased their price objective on Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Price Performance

The company has a 50 day moving average price of $13.73 and a 200 day moving average price of $14.54. The firm has a market cap of $5.26 billion, a PE ratio of 30.80 and a beta of 0.49.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BZ. UMB Bank n.a. acquired a new stake in shares of Kanzhun during the third quarter valued at $42,000. Van ECK Associates Corp acquired a new stake in shares of Kanzhun during the third quarter valued at $61,000. Premier Fund Managers Ltd boosted its stake in Kanzhun by 38.0% in the 3rd quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock worth $180,000 after buying an additional 2,884 shares during the last quarter. DRW Securities LLC acquired a new stake in Kanzhun in the 3rd quarter worth about $203,000. Finally, Hancock Whitney Corp acquired a new stake in Kanzhun in the 3rd quarter worth about $228,000. 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.