QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) Short Interest Up 32.2% in July

Key Points

• QuantaSing Group Limited (NASDAQ:QSG) saw a 32.2% increase in short interest in July, totaling 1,110,000 shares, with a days-to-cover ratio of 0.9 days.
• CitiGroup upgraded QuantaSing Group from a "neutral" to a "buy" rating, raising the price target to $9.52, while the stock has a consensus rating of "buy."
• The company has witnessed significant activity from institutional investors, with Millennium Management lifting its stake by 173.5% in the last quarter.

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 1,110,000 shares, anincreaseof32.2% from the July 15th total of 839,400 shares. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately3.4% of the company's stock are sold short. Approximately3.4% of the company's stock are sold short. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

QSG has been the subject of a number of research analyst reports. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $6.10 to $9.52 in a report on Tuesday, June 10th. Wall Street Zen downgraded QuantaSing Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $9.52.

QuantaSing Group Trading Down 3.3%

Shares of NASDAQ QSG opened at $7.25 on Wednesday. QuantaSing Group has a twelve month low of $1.58 and a twelve month high of $15.64. The stock has a 50 day moving average of $9.43 and a two-hundred day moving average of $6.16. The stock has a market cap of $371.27 million, a P/E ratio of 6.53 and a beta of -0.98.

Institutional Investors Weigh In On QuantaSing Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in QuantaSing Group by 173.5% in the fourth quarter. Millennium Management LLC now owns 36,685 shares of the company's stock valued at $79,000 after buying an additional 23,272 shares during the last quarter. Geode Capital Management LLC purchased a new stake in shares of QuantaSing Group during the fourth quarter worth approximately $27,000. Tower Research Capital LLC TRC purchased a new stake in shares of QuantaSing Group during the second quarter worth approximately $93,000. NewEdge Advisors LLC raised its stake in shares of QuantaSing Group by 29.2% during the second quarter. NewEdge Advisors LLC now owns 38,283 shares of the company's stock worth $362,000 after purchasing an additional 8,647 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of QuantaSing Group during the second quarter worth approximately $160,000.

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.

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