Kanzhun (NASDAQ:BZ) Trading Down 3.3% – Time to Sell?

Kanzhun Limited (NASDAQ:BZ)’s stock price fell 3.3% during mid-day trading on Thursday . The company traded as low as $12.91 and last traded at $13.00. 626,080 shares changed hands during trading, a decline of 85% from the average session volume of 4,078,359 shares. The stock had previously closed at $13.44.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BZ. CLSA began coverage on shares of Kanzhun in a report on Monday. They set an “outperform” rating and a $18.00 target price on the stock. Barclays cut their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Finally, Daiwa America raised Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Kanzhun currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Kanzhun Price Performance

The business’s 50 day moving average price is $15.01 and its 200-day moving average price is $16.55. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 31.26 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The company had revenue of $263.75 million for the quarter, compared to analyst estimates of $264.38 million. As a group, analysts expect that Kanzhun Limited will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Kanzhun

Several hedge funds and other institutional investors have recently modified their holdings of BZ. Atlas Capital Advisors LLC bought a new position in Kanzhun in the 2nd quarter valued at $25,000. UMB Bank n.a. bought a new stake in shares of Kanzhun in the third quarter valued at about $42,000. Summit Securities Group LLC acquired a new position in Kanzhun during the second quarter worth $44,000. Van ECK Associates Corp acquired a new stake in Kanzhun in the 3rd quarter valued at $61,000. Finally, Blue Trust Inc. boosted its stake in shares of Kanzhun by 21.4% during the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

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.