QuantaSing Group (NASDAQ:QSG) Stock Price Up 2.1% – Time to Buy?

Shares of QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) shot up 2.1% during mid-day trading on Monday . The stock traded as high as $4.98 and last traded at $4.85. 223,527 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 269,512 shares. The stock had previously closed at $4.75.

Wall Street Analyst Weigh In

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

QuantaSing Group Trading Up 2.1%

The firm’s fifty day moving average is $5.08 and its 200-day moving average is $7.08. The stock has a market capitalization of $248.38 million, a PE ratio of 5.39 and a beta of -0.98.

Hedge Funds Weigh In On QuantaSing Group

Hedge funds have recently made changes to their positions in the stock. Oxbow Capital Management HK Ltd acquired a new stake in shares of QuantaSing Group in the second quarter valued at $4,725,000. Cantor Fitzgerald L. P. acquired a new position in QuantaSing Group during the 3rd quarter worth $990,000. Oasis Management Co Ltd. increased 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 purchasing an additional 23,753 shares during the period. Acadian Asset Management LLC raised its position in QuantaSing Group by 301.6% in the 1st quarter. Acadian Asset Management LLC now owns 93,158 shares of the company’s stock valued at $369,000 after purchasing an additional 69,963 shares in the last quarter. Finally, Nomura Holdings Inc. raised its position in 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 purchasing an additional 68,318 shares in 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.