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.

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.