Kanzhun (NASDAQ:BZ) Trading Down 13.3% – What’s Next?

Shares of Kanzhun Limited (NASDAQ:BZ) were down 13.3% on Friday . The company traded as low as $16.46 and last traded at $16.37. Approximately 1,542,576 shares changed hands during trading, a decline of 66% from the average daily volume of 4,560,683 shares. The stock had previously closed at $18.87.

Wall Street Analyst Weigh In

BZ has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Sanford C. Bernstein reissued a “market perform” rating and set a $18.00 price objective on shares of Kanzhun in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.71.

Kanzhun Trading Down 18.3 %

The stock has a market capitalization of $5.92 billion, a P/E ratio of 34.27 and a beta of 0.32. The company has a fifty day simple moving average of $17.12 and a two-hundred day simple moving average of $15.43.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in shares of Kanzhun by 39.7% in the 4th quarter. California State Teachers Retirement System now owns 147,518 shares of the company’s stock valued at $2,036,000 after acquiring an additional 41,941 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Kanzhun during the fourth quarter valued at approximately $1,979,000. GF Fund Management CO. LTD. bought a new stake in Kanzhun in the fourth quarter valued at approximately $9,066,000. Public Employees Retirement System of Ohio increased its stake in Kanzhun by 38.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 114,088 shares of the company’s stock valued at $1,574,000 after purchasing an additional 31,739 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Kanzhun in the fourth quarter worth $256,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

About Kanzhun

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.