Kanzhun Limited (NASDAQ:BZ – Get Rating) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 13,180,000 shares, a drop of 5.0% from the January 31st total of 13,880,000 shares. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is currently 4.6 days. Currently, 3.8% of the shares of the company are sold short.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of Kanzhun by 37.0% in the 2nd quarter. Millennium Management LLC now owns 1,104,347 shares of the company’s stock valued at $29,022,000 after purchasing an additional 298,214 shares in the last quarter. Hhlr Advisors LTD. purchased a new position in Kanzhun during the second quarter worth approximately $21,713,000. Point72 Hong Kong Ltd boosted its position in Kanzhun by 909,900.0% during the second quarter. Point72 Hong Kong Ltd now owns 218,400 shares of the company’s stock worth $5,740,000 after purchasing an additional 218,376 shares in the last quarter. Bluefin Capital Management LLC purchased a new position in Kanzhun during the second quarter worth approximately $275,000. Finally, Collaborative Holdings Management LP purchased a new position in Kanzhun during the second quarter worth approximately $4,809,000. Hedge funds and other institutional investors own 48.38% of the company’s stock.
Kanzhun Price Performance
Shares of Kanzhun stock opened at $20.91 on Tuesday. The firm has a fifty day moving average price of $22.92 and a 200 day moving average price of $19.72. Kanzhun has a 1 year low of $9.74 and a 1 year high of $29.50. The stock has a market cap of $7.83 billion, a PE ratio of 110.06 and a beta of 0.28.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group raised shares of Kanzhun from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $27.50 to $23.00 in a report on Monday, November 14th.
About Kanzhun
Kanzhun Limited operates an online recruitment platform, BOSS Zhipin in the People’s Republic of China. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations. The company was founded in 2013 and is headquartered in Beijing, the People’s Republic of China.