QuantaSing Group (NASDAQ:QSG) Trading Up 2.1% – Here’s What Happened

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) shares rose 2.1% during mid-day trading on Monday . The company traded as high as $5.80 and last traded at $5.37. Approximately 402,907 shares were traded during trading, an increase of 49% from the average daily volume of 269,512 shares. The stock had previously closed at $5.26.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on QSG shares. Weiss Ratings restated a “hold (c)” rating on shares of QuantaSing Group in a research note on Wednesday, October 8th. Wall Street Zen cut shares of QuantaSing Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, QuantaSing Group currently has a consensus rating of “Moderate Buy” and an average price target of $9.52.

QuantaSing Group Stock Performance

The company has a market capitalization of $275.01 million, a PE ratio of 5.97 and a beta of -0.98. The company has a 50 day moving average price of $5.75 and a 200 day moving average price of $7.83.

Institutional Investors Weigh In On QuantaSing Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oxbow Capital Management HK Ltd acquired a new position in QuantaSing Group in the second quarter worth about $4,725,000. Cantor Fitzgerald L. P. acquired a new stake in QuantaSing Group during the third quarter valued at approximately $990,000. Oasis Management Co Ltd. lifted its holdings in QuantaSing Group by 33.9% during the 3rd quarter. Oasis Management Co Ltd. now owns 93,753 shares of the company’s stock worth $846,000 after buying an additional 23,753 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of QuantaSing Group by 301.6% in the 1st quarter. Acadian Asset Management LLC now owns 93,158 shares of the company’s stock worth $369,000 after acquiring an additional 69,963 shares in the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of QuantaSing Group by 359.0% in the 3rd quarter. Nomura Holdings Inc. now owns 87,346 shares of the company’s stock valued at $788,000 after acquiring an additional 68,318 shares during the last quarter.

QuantaSing Group Company Profile

QuantaSing Group Limited provides online learning services in the People's Republic of China. The company offers online courses, including financial literacy, short-video production, personal well-being, electronic keyboard, and meditation courses. It also offers marketing and enterprise talent management services to enterprise customers. In addition, the company provides online and literacy course to adult learners under various brands, including QiNiu, JiangZhen, and QianChi. QuantaSing Group Limited was founded in 2019 and is headquartered in Beijing, the People's Republic of China.