Quantasing Group (NASDAQ:HERE) Downgraded by Wall Street Zen to “Sell”

Quantasing Group (NASDAQ:HERE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on HERE. Weiss Ratings downgraded Quantasing Group from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, June 9th. Citigroup restated a “neutral” rating and set a $2.50 price objective on shares of Quantasing Group in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $2.50.

Quantasing Group Stock Up 7.1%

Shares of NASDAQ:HERE opened at $2.12 on Friday. Quantasing Group has a 1 year low of $1.50 and a 1 year high of $13.63. The company’s 50 day simple moving average is $2.66. The stock has a market capitalization of $115.88 million, a price-to-earnings ratio of 2.47 and a beta of -0.56.

Quantasing Group declared that its board has approved a stock buyback program on Friday, June 5th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Quantasing Group

Several large investors have recently added to or reduced their stakes in HERE. Fideuram Asset Management Ireland dac bought a new position in Quantasing Group in the 4th quarter worth about $1,428,000. Oasis Management Co Ltd. purchased a new stake in shares of Quantasing Group in the fourth quarter valued at approximately $479,000. SG Americas Securities LLC purchased a new stake in shares of Quantasing Group in the first quarter valued at approximately $308,000. Barclays PLC bought a new position in Quantasing Group in the fourth quarter worth approximately $329,000. Finally, XTX Topco Ltd bought a new position in Quantasing Group in the fourth quarter worth approximately $247,000.

About Quantasing Group

We believe that personal learning and development is a lifelong journey. Everyone, regardless of background, should be given an equal opportunity to pursue their interests, passions, and goals. Our mission is to improve people’s quality of life and well-being by providing them lifelong personal learning and development opportunities. QuantaSing Group is the largest online learning service provider in China’s adult learning market for personal interest courses and among the top five service providers in China’s total adult learning market, in terms of revenue in 2021, according to the F&S report.