QuantaSing Group (NASDAQ:QSG) Posts Quarterly Earnings Results

Key Points

• QuantaSing Group reported quarterly earnings of $0.27 per share, exceeding estimates by $0.12, with a return on equity of 68.92% and a net margin of 14.27%.
• The stock has a market capitalization of $519.78 million, with a price-to-earnings ratio of 9.14 and significant recent interest from institutional investors.
• Analysts give QuantaSing Group an average rating of "Buy" with a consensus price target raised to $9.52, though some firms have recently changed their ratings.

QuantaSing Group (NASDAQ:QSG - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.12, Zacks reports. QuantaSing Group had a return on equity of 47.31% and a net margin of 13.13%.The business had revenue of $86.25 million during the quarter.

QuantaSing Group Price Performance

Shares of QSG stock traded up $1.17 during trading hours on Friday, reaching $9.98. The company had a trading volume of 1,091,183 shares, compared to its average volume of 933,109. QuantaSing Group has a 12 month low of $1.60 and a 12 month high of $15.64. The business has a fifty day simple moving average of $8.69 and a 200-day simple moving average of $7.17. The company has a market cap of $511.10 million, a price-to-earnings ratio of 11.09 and a beta of -0.99.

Institutional Trading of QuantaSing Group

A number of hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. bought a new stake in QuantaSing Group during the second quarter worth $180,000. Tower Research Capital LLC TRC bought a new stake in QuantaSing Group during the second quarter worth $93,000. NewEdge Advisors LLC lifted its holdings in 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 acquiring an additional 8,647 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of QuantaSing Group in the second quarter valued at $160,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of QuantaSing Group in the second quarter valued at $62,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QSG shares. Wall Street Zen cut QuantaSing Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $6.10 to $9.52 in a research note on Tuesday, June 10th. One investment 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 target price of $9.52.

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.