QuantaSing Group (NASDAQ:QSG) Trading 1.5% Higher – Should You Buy?

Shares of QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) shot up 1.5% on Thursday . The company traded as high as $4.13 and last traded at $4.11. 63,128 shares were traded during mid-day trading, a decline of 77% from the average session volume of 269,512 shares. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered QuantaSing Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.52.

QuantaSing Group Stock Up 1.5%

The company has a market capitalization of $210.48 million, a PE ratio of 4.57 and a beta of -0.98. The firm has a 50-day moving average of $4.90 and a two-hundred day moving average of $6.53.

Institutional Trading of QuantaSing Group

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of QuantaSing Group during the 3rd quarter valued at about $30,000. NewEdge Advisors LLC boosted its position in QuantaSing Group by 17.4% during the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company’s stock worth $119,000 after purchasing an additional 4,394 shares in the last quarter. SG Americas Securities LLC grew its holdings in QuantaSing Group by 38.2% in the third quarter. SG Americas Securities LLC now owns 20,726 shares of the company’s stock valued at $187,000 after purchasing an additional 5,726 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of QuantaSing Group in the second quarter valued at approximately $62,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of QuantaSing Group during the 2nd quarter worth approximately $93,000.

About QuantaSing Group

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.