Kanzhun (NASDAQ:BZ) Shares Gap Down – Here’s Why

Kanzhun Limited (NASDAQ:BZ) shares gapped down prior to trading on Monday . The stock had previously closed at $17.00, but opened at $16.45. Kanzhun shares last traded at $16.59, with a volume of 438,088 shares trading hands.

Wall Street Analyst Weigh In

BZ has been the subject of several research analyst reports. Barclays reduced their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Daiwa America upgraded Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Finally, Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Kanzhun Trading Down 3.4 %

The stock has a market cap of $6.25 billion, a P/E ratio of 42.28 and a beta of 0.52. The stock has a 50 day simple moving average of $14.26 and a 200 day simple moving average of $17.39.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping 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 analysts’ expectations of $264.38 million. Equities analysts anticipate that Kanzhun Limited will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UMB Bank n.a. bought a new position in Kanzhun in the third quarter valued at about $42,000. SIH Partners LLLP bought a new stake in shares of Kanzhun during the 2nd quarter valued at approximately $282,000. The Manufacturers Life Insurance Company increased its position in Kanzhun by 127.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company’s stock worth $48,519,000 after purchasing an additional 1,446,033 shares in the last quarter. MBB Public Markets I LLC bought a new position in Kanzhun in the 2nd quarter valued at approximately $308,000. Finally, AQR Capital Management LLC acquired a new stake in Kanzhun in the second quarter valued at approximately $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.