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

Kanzhun Limited (NASDAQ:BZ) was the target of a large 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. Approximately 5.2% of the shares of the company are short sold. Based on an average daily trading volume, of 3,940,000 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Investors Weigh In On Kanzhun

A number of large investors have recently made changes to their positions in BZ. Assenagon Asset Management S.A. grew its position in Kanzhun by 2.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company’s stock worth $52,136,000 after acquiring an additional 78,697 shares during the period. Nordea Investment Management AB grew its position in Kanzhun by 13.8% in the fourth quarter. Nordea Investment Management AB now owns 282,510 shares of the company’s stock worth $3,928,000 after acquiring an additional 34,284 shares during the period. Franklin Resources Inc. grew its position in Kanzhun by 12.8% in the third quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock worth $2,201,000 after acquiring an additional 15,497 shares during the period. Tidal Investments LLC purchased a new position in Kanzhun in the third quarter worth approximately $662,000. Finally, Geode Capital Management LLC grew its position in Kanzhun by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,822,128 shares of the company’s stock worth $31,404,000 after acquiring an additional 58,065 shares during the period. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BZ. Barclays upped their price target on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. CLSA began coverage on Kanzhun in a report on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target for the company. Citigroup reduced their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, Sanford C. Bernstein cut 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 report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Kanzhun Price Performance

Shares of Kanzhun stock opened at $14.69 on Monday. The business has a 50 day simple moving average of $13.70 and a two-hundred day simple moving average of $14.45. The stock has a market capitalization of $5.57 billion, a P/E ratio of 32.65 and a beta of 0.49. Kanzhun has a 12 month low of $10.57 and a 12 month high of $22.74.

Kanzhun (NASDAQ:BZ) last posted 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 return on equity of 10.31% and a net margin of 20.65%. As a group, research analysts anticipate that Kanzhun will post 0.46 EPS 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.