Kanzhun (NASDAQ:BZ) Trading Down 13.3% – Here’s Why

Kanzhun Limited (NASDAQ:BZ) was down 13.3% during trading on Friday . The company traded as low as $16.46 and last traded at $16.37. Approximately 1,542,576 shares traded 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.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BZ. Sanford C. Bernstein reiterated a “market perform” rating and issued a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Barclays upped their price target on shares of Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

Kanzhun Stock Down 18.3 %

The stock’s fifty day moving average price is $17.12 and its 200-day moving average price is $15.43. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 34.27 and a beta of 0.32.

Institutional Investors Weigh In On Kanzhun

Several institutional investors and hedge funds have recently added to or reduced their stakes in BZ. First Trust Advisors LP boosted its holdings in shares of Kanzhun by 7.7% in the 4th quarter. First Trust Advisors LP now owns 13,927 shares of the company’s stock valued at $192,000 after buying an additional 999 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Kanzhun by 403.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock valued at $25,000 after acquiring an additional 1,427 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Kanzhun by 107.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock valued at $41,000 after acquiring an additional 1,542 shares during the period. Swiss National Bank increased its stake in shares of Kanzhun by 0.3% during the 4th quarter. Swiss National Bank now owns 600,966 shares of the company’s stock worth $8,293,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Kanzhun by 9.3% in the 4th quarter. Rhumbline Advisers now owns 24,185 shares of the company’s stock valued at $334,000 after purchasing an additional 2,066 shares during the period. 60.67% of the stock is owned by institutional investors.

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.