Kanzhun (NASDAQ:BZ) Stock Price Down 2.8%

Kanzhun Limited (NASDAQ:BZ)’s stock price dropped 2.8% during mid-day trading on Thursday . The stock traded as low as $17.61 and last traded at $17.79. Approximately 1,283,852 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 3,178,732 shares. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

BZ has been the topic of several research reports. TheStreet raised Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. began coverage on Kanzhun in a research note on Wednesday, December 13th. They issued an “overweight” rating and a $20.00 price objective on the stock. Barclays raised their price objective on Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. New Street Research raised Kanzhun from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $17.00 to $25.00 in a research note on Wednesday, March 13th. Finally, Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 12th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Kanzhun has a consensus rating of “Moderate Buy” and an average target price of $20.38.

Kanzhun Stock Performance

The stock has a fifty day moving average of $15.88 and a 200-day moving average of $15.65. The company has a market cap of $6.58 billion, a PE ratio of 55.46 and a beta of 0.56.

Institutional Investors Weigh In On Kanzhun

A number of institutional investors and hedge funds have recently bought and sold shares of BZ. Norges Bank bought a new position in shares of Kanzhun in the 4th quarter worth $98,023,000. BlackRock Inc. increased its position in Kanzhun by 57.6% during the 3rd quarter. BlackRock Inc. now owns 8,927,652 shares of the company’s stock valued at $150,698,000 after buying an additional 3,263,310 shares in the last quarter. JPMorgan Chase & Co. increased its position in Kanzhun by 14.9% during the 1st quarter. JPMorgan Chase & Co. now owns 13,097,337 shares of the company’s stock valued at $249,242,000 after buying an additional 1,702,922 shares in the last quarter. State Street Corp increased its position in Kanzhun by 114.8% during the 3rd quarter. State Street Corp now owns 2,930,741 shares of the company’s stock valued at $49,471,000 after buying an additional 1,566,551 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Kanzhun by 40.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,144,794 shares of the company’s stock valued at $135,205,000 after buying an additional 1,487,391 shares in the last quarter. 60.67% of the stock is owned by institutional investors.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.