KANZHUN (NASDAQ:BZ) Reaches New 1-Year High - Here's Why

Key Points

• Kanzhun Limited shares reached a new 52-week high of $21.16 during trading, closing at $21.03 with a significant trading volume of 593,846 shares.
• Analyst ratings for Kanzhun have improved, with a firm upgrade from "hold" to "strong-buy," leading to an average rating of "Buy" and a consensus price target of $18.50.
• Recent institutional investments include a 403.1% increase in stake by Quadrant Capital Group, highlighting growing confidence among large investors in Kanzhun's stock.

Shares of KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $21.16 and last traded at $21.03, with a volume of 593846 shares traded. The stock had previously closed at $20.53.

Analyst Ratings Changes

Separately, Daiwa America raised KANZHUN from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, KANZHUN currently has an average rating of "Buy" and a consensus price target of $18.50.

KANZHUN Trading Up 3.2%

The firm's fifty day moving average price is $18.55 and its two-hundred day moving average price is $17.20. The stock has a market capitalization of $8.69 billion, a PE ratio of 36.51 and a beta of 0.41.

Hedge Funds Weigh In On KANZHUN

Large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its stake in KANZHUN by 403.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock valued at $25,000 after acquiring an additional 1,427 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of KANZHUN during the 1st quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in KANZHUN in the 1st quarter valued at about $27,000. Brooklyn Investment Group lifted its position in shares of KANZHUN by 3,115.4% in the first quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock valued at $56,000 after acquiring an additional 2,835 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in KANZHUN by 39.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,211 shares of the company's stock valued at $75,000 after acquiring an additional 1,185 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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