Kanzhun (NASDAQ:BZ) Trading Down 13.3% - Should You Sell?

Kanzhun Limited (NASDAQ:BZ - Get Free Report) shares dropped 13.3% during trading on Friday . The stock traded as low as $16.46 and last traded at $16.37. Approximately 1,542,576 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,560,683 shares. The stock had previously closed at $18.87.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BZ shares. Barclays upped their target price on shares of Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.71.

Kanzhun Stock Up 7.8 %

The firm has a fifty day moving average of $17.10 and a 200-day moving average of $15.47. The firm has a market cap of $5.86 billion, a P/E ratio of 33.89 and a beta of 0.32.

Hedge Funds Weigh In On Kanzhun

A number of institutional investors have recently added to or reduced their stakes in BZ. State Street Corp grew its holdings in Kanzhun by 2.8% during the third quarter. State Street Corp now owns 5,084,631 shares of the company's stock worth $88,269,000 after purchasing an additional 138,804 shares during the period. Wolverine Trading LLC bought a new position in shares of Kanzhun during the 3rd quarter worth approximately $263,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Kanzhun by 7,012.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company's stock worth $40,378,000 after acquiring an additional 2,293,229 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kanzhun in the 3rd quarter valued at $1,430,000. Finally, Barclays PLC lifted its holdings in Kanzhun by 58.7% during the 3rd quarter. Barclays PLC now owns 450,663 shares of the company's stock valued at $7,824,000 after purchasing an additional 166,683 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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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.