Quantasing Group (NASDAQ:HERE) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded QuantaSing Group from “sell” to “hold,” while the broader analyst consensus remains “Reduce” with a $2.50 target price.
• QuantaSing shares opened at $1.85, near the lower end of their 12-month range of $1.50 to $13.63, with a market capitalization of approximately $101 million.
• Several institutional investors, including Geode Capital Management and Renaissance Technologies, established new positions in the company during the fourth quarter.

Quantasing Group (NASDAQ:HERE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

A number of other research analysts have also issued reports on HERE. Citigroup reiterated a "neutral" rating and issued a $2.50 target price on shares of Quantasing Group in a research note on Wednesday, May 27th. Weiss Ratings cut shares of Quantasing Group from a "hold (c)" rating to a "sell (d+)" rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Quantasing Group has an average rating of "Reduce" and a consensus target price of $2.50.

Quantasing Group Stock Performance

NASDAQ:HERE opened at $1.85 on Friday. The company has a 50 day moving average price of $1.94. Quantasing Group has a 12 month low of $1.50 and a 12 month high of $13.63. The company has a market capitalization of $101.12 million, a price-to-earnings ratio of 2.15 and a beta of -0.51.

Quantasing Group announced that its board has authorized a stock repurchase plan on Friday, June 5th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Quantasing Group

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

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.

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