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

Kanzhun Limited (NASDAQ:BZ) saw unusually-high trading volume on Tuesday . Approximately 2,415,620 shares were traded during mid-day 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.

Analyst Upgrades and Downgrades

BZ has been the topic of several recent analyst reports. Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. Barclays lifted their target price on shares of Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. CLSA assumed coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Citigroup reduced their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Stock Performance

The business’s 50 day moving average is $13.73 and its 200-day moving average is $14.54. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 30.80 and a beta of 0.49.

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

Institutional Investors Weigh In On Kanzhun

Several institutional investors and hedge funds have recently added to or reduced their stakes in BZ. Assenagon Asset Management S.A. boosted its position in shares of Kanzhun by 2.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company’s stock valued at $52,136,000 after acquiring an additional 78,697 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Kanzhun by 13.8% during the 4th quarter. Nordea Investment Management AB now owns 282,510 shares of the company’s stock valued at $3,928,000 after acquiring an additional 34,284 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Kanzhun by 12.8% during the 3rd quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock valued at $2,201,000 after acquiring an additional 15,497 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Kanzhun during the 3rd quarter valued at about $662,000. Finally, Geode Capital Management LLC boosted its position in shares of Kanzhun by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock valued at $31,404,000 after acquiring an additional 58,065 shares during the last quarter. Institutional investors and hedge funds 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.