QuantaSing Group (NASDAQ:QSG) Sees Large Volume Increase - Here's Why

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 unusually-strong trading volume on Monday . Approximately 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.

Wall Street Analysts Forecast Growth

QSG has been the subject of a number of analyst reports. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $6.10 to $9.52 in a research note 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $9.52.

QuantaSing Group Price Performance

The stock has a market cap of $491.62 million, a P/E ratio of 8.65 and a beta of -0.98. The stock's fifty day simple moving average is $8.65 and its 200-day simple moving average is $6.95.

Institutional Investors Weigh In On QuantaSing Group

Several large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in QuantaSing Group by 17.4% in the 1st quarter. NewEdge Advisors LLC now owns 29,636 shares of the company's stock valued at $119,000 after purchasing an additional 4,394 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of QuantaSing Group in the second quarter valued at approximately $62,000. Tower Research Capital LLC TRC bought a new stake in shares of QuantaSing Group during the second quarter valued at approximately $93,000. Qube Research & Technologies Ltd acquired a new position in shares of QuantaSing Group during the second quarter worth approximately $160,000. Finally, Nomura Holdings Inc. bought a new position in QuantaSing Group in the 2nd quarter worth approximately $180,000.

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.

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