QuantaSing Group (NASDAQ:QSG) Stock Price Down 4.3% – Time to Sell?

Shares of QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) fell 4.3% on Friday . The company traded as low as $1.97 and last traded at $1.98. Approximately 88,205 shares traded hands during trading, a decline of 90% from the average daily volume of 874,682 shares. The stock had previously closed at $2.07.

QuantaSing Group Price Performance

The company has a 50-day simple moving average of $2.68 and a 200-day simple moving average of $3.84. The stock has a market cap of $101.40 million, a PE ratio of 2.20 and a beta of -0.98.

Hedge Funds Weigh In On QuantaSing Group

A number of institutional investors and hedge funds have recently made changes to their positions in QSG. Quarry LP acquired a new stake in shares of QuantaSing Group in the third quarter valued at about $30,000. EverSource Wealth Advisors LLC acquired a new position in QuantaSing Group during the second quarter worth about $62,000. Tower Research Capital LLC TRC purchased a new position in QuantaSing Group in the second quarter valued at about $93,000. NewEdge Advisors LLC increased its holdings in QuantaSing Group by 17.4% in the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company’s stock valued at $119,000 after buying an additional 4,394 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of QuantaSing Group during the 3rd quarter valued at approximately $142,000.

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.