Quantasing Group Ltd (NASDAQ:HERE) Short Interest Update

Key Points

• Short interest more than doubled to 753,766 shares as of July 15, up 105.5% from June 30. The short-interest ratio stands at 7.2 days, with about 1.4% of shares sold short.
• Analyst sentiment is bearish: Weiss Ratings and Wall Street Zen downgraded the stock to “sell,” while Citigroup maintained a “neutral” rating with a $2.50 price target. MarketBeat reports a consensus “Reduce” rating.
• Quantasing shares opened at $1.88, near the lower end of their $1.50–$13.63 52-week range, with a market capitalization of approximately $102.8 million.

Quantasing Group Ltd (NASDAQ:HERE - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 753,766 shares, a growth of 105.5% from the June 30th total of 366,881 shares. Based on an average daily volume of 104,590 shares, the short-interest ratio is presently 7.2 days. Approximately 1.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on HERE shares. Weiss Ratings downgraded Quantasing Group from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, June 9th. Wall Street Zen lowered shares of Quantasing Group from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Finally, Citigroup reissued a "neutral" rating and issued a $2.50 price target 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 given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $2.50.

Quantasing Group Price Performance

Shares of NASDAQ:HERE opened at $1.88 on Wednesday. The firm has a market cap of $102.76 million, a price-to-earnings ratio of 2.19 and a beta of -0.52. Quantasing Group has a 1-year low of $1.50 and a 1-year high of $13.63. The stock's 50 day moving average price is $2.03.

Quantasing Group declared that its Board of Directors has approved a stock repurchase program on Friday, June 5th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Quantasing Group

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new position in Quantasing Group in the fourth quarter worth about $72,000. Squarepoint Ops LLC acquired a new stake in Quantasing Group during the fourth quarter valued at approximately $77,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Quantasing Group during the fourth quarter valued at approximately $88,000. Invesco Ltd. bought a new stake in shares of Quantasing Group in the 4th quarter valued at approximately $98,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Quantasing Group in the 4th quarter worth approximately $117,000.

Quantasing Group Company Profile

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.

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