QuantaSing Group (NASDAQ:QSG) Sees Large Volume Increase - What's Next?

Key Points

• QuantaSing Group experienced a significant increase in trading volume, with approximately 1.25 million shares traded, up 44% from the previous session.
• Analysts are optimistic about QuantaSing Group’s future, with Citigroup upgrading its rating from "neutral" to "buy" and raising the target price to $9.52.
• The company has a market cap of $491.62 million and a P/E ratio of 8.65, indicating strong growth potential relative to its earnings.

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) saw an uptick in trading volume on Monday . 1,246,793 shares changed hands during mid-day trading, an increase of 44% from the previous session's volume of 865,186 shares.The stock last traded at $11.84 and had previously closed at $11.70.

Analyst Ratings Changes

Several brokerages have recently issued reports on QSG. Citigroup upgraded QuantaSing Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $6.10 to $9.52 in a research report on Tuesday, June 10th. Wall Street Zen downgraded QuantaSing Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, QuantaSing Group has an average rating of "Buy" and an average price target of $9.52.

QuantaSing Group Stock Performance

The firm has a market capitalization of $511.08 million, a price-to-earnings ratio of 11.09 and a beta of -0.99. The business has a fifty day moving average price of $8.69 and a 200 day moving average price of $7.14.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.12. The company had revenue of $86.25 million for the quarter. QuantaSing Group had a return on equity of 47.31% and a net margin of 13.13%. On average, analysts expect that QuantaSing Group Limited Unsponsored ADR will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On QuantaSing Group

A number of large investors have recently modified their holdings of the company. Oxbow Capital Management HK Ltd purchased a new position in shares of QuantaSing Group in the 2nd quarter worth about $4,725,000. Acadian Asset Management LLC grew its stake in shares of QuantaSing Group by 301.6% in the first quarter. Acadian Asset Management LLC now owns 93,158 shares of the company's stock valued at $369,000 after buying an additional 69,963 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of QuantaSing Group in the second quarter valued at about $484,000. XTX Topco Ltd acquired a new stake in shares of QuantaSing Group in the second quarter valued at about $440,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of QuantaSing Group in the second quarter valued at about $373,000.

About QuantaSing Group

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.