Quantasing Group Ltd (NASDAQ:HERE) Sees Significant Growth in Short Interest

Key Points

• Short interest more than doubled to 530,230 shares as of September 30, up 126.4% from mid-month; short interest represents 1.0% of shares outstanding, with an 18.6-day short-interest ratio.
• SG Americas Securities acquired a new 87,121-share stake valued at approximately $308,000, representing about 0.16% of Quantasing Group.
• Shares opened at $1.63, near the 52-week low of $1.50 and well below the $7.95 high. Analysts maintain a cautious outlook, with ratings split between Hold and Sell and a consensus rating of “Reduce.”

Quantasing Group Ltd (NASDAQ:HERE - Get Free Report) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 530,230 shares, an increase of 126.4% from the September 15th total of 234,184 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 28,530 shares, the short-interest ratio is presently 18.6 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Quantasing Group stock. SG Americas Securities LLC acquired a new stake in shares of Quantasing Group Ltd (NASDAQ:HERE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 87,121 shares of the company's stock, valued at approximately $308,000. SG Americas Securities LLC owned about 0.16% of Quantasing Group as of its most recent filing with the Securities and Exchange Commission.

Quantasing Group Stock Performance

Shares of NASDAQ:HERE opened at $1.63 on Tuesday. The stock has a market capitalization of $89.10 million, a price-to-earnings ratio of 14.82 and a beta of -0.47. Quantasing Group has a 1-year low of $1.50 and a 1-year high of $7.95. The company has a 50 day moving average price of $1.81 and a 200 day moving average price of $2.30.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Quantasing Group in a research report on Friday, September 4th. Wall Street Zen upgraded shares of Quantasing Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $2.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.