Kanzhun (NASDAQ:BZ) Shares Gap Down to $14.18

Kanzhun Limited (NASDAQ:BZ) gapped down before the market opened on Monday . The stock had previously closed at $14.18, but opened at $13.86. Kanzhun shares last traded at $13.85, with a volume of 114,134 shares trading hands.

Wall Street Analyst Weigh In

BZ has been the subject of a number of recent analyst reports. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Kanzhun from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. UBS Group boosted their price target on Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. HSBC assumed coverage on Kanzhun in a report on Friday, May 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Kanzhun presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Kanzhun Price Performance

The company has a market cap of $5.35 billion, a price-to-earnings ratio of 36.03 and a beta of 0.48. The company’s 50-day simple moving average is $16.40 and its 200-day simple moving average is $17.97.

Institutional Trading of Kanzhun

Several large investors have recently modified their holdings of the business. Norges Bank bought a new position in Kanzhun during the 4th quarter valued at $98,023,000. RWC Asset Advisors US LLC raised its stake in shares of Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after purchasing an additional 2,529,725 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Kanzhun by 308.2% during the first quarter. Assenagon Asset Management S.A. now owns 2,765,211 shares of the company’s stock worth $48,474,000 after purchasing an additional 2,087,745 shares during the last quarter. GGV Capital LLC grew its stake in Kanzhun by 350.8% in the first quarter. GGV Capital LLC now owns 2,366,764 shares of the company’s stock worth $41,489,000 after purchasing an additional 1,841,764 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Kanzhun in the second quarter valued at about $28,705,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.