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

Kanzhun Limited (NASDAQ:BZ) gapped down prior to trading on Friday . The stock had previously closed at $14.31, but opened at $13.75. Kanzhun shares last traded at $14.09, with a volume of 1,042,146 shares trading hands.

Analyst Upgrades and Downgrades

BZ has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Sanford C. Bernstein reiterated a “market perform” rating and set a $18.00 target price on shares of Kanzhun in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Kanzhun Price Performance

The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 32.29 and a beta of 0.32. The firm’s 50-day moving average is $17.09 and its 200 day moving average is $15.48.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its position in shares of Kanzhun by 403.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company’s stock worth $25,000 after buying an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Kanzhun by 107.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after purchasing an additional 1,542 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Kanzhun in the fourth quarter worth about $63,000. Townsquare Capital LLC bought a new position in Kanzhun during the 4th quarter worth $157,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Kanzhun during the fourth quarter valued at $160,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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.