QuantaSing Group (NASDAQ:QSG) Sees Large Volume Increase - Still a Buy?

Shares of QuantaSing Group Limited (NASDAQ:QSG - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,094,575 shares changed hands during trading, an increase of 149% from the previous session's volume of 440,243 shares.The stock last traded at $11.11 and had previously closed at $12.06.

Analysts Set New Price Targets

QSG has been the topic of several recent research reports. Citigroup raised shares of QuantaSing Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $6.10 to $9.52 in a report on Tuesday. Wall Street Zen lowered shares of QuantaSing Group from a "buy" rating to a "hold" rating in a report on Saturday, June 7th.

QuantaSing Group Trading Down 4.6%

The firm has a market cap of $589.45 million, a P/E ratio of 11.63 and a beta of -1.43. The business's fifty day simple moving average is $6.11 and its 200-day simple moving average is $3.82.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. The business had revenue of $99.55 million for the quarter, compared to analyst estimates of $97.90 million. QuantaSing Group had a net margin of 10.67% and a return on equity of 88.29%. Analysts anticipate that QuantaSing Group Limited will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On QuantaSing Group

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC bought a new stake in shares of QuantaSing Group during the 4th quarter valued at about $27,000. Acadian Asset Management LLC boosted its stake in shares of QuantaSing Group by 301.6% during the 1st quarter. Acadian Asset Management LLC now owns 93,158 shares of the company's stock valued at $369,000 after purchasing an additional 69,963 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of QuantaSing Group by 17.4% during 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 in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of QuantaSing Group by 173.5% during the 4th quarter. Millennium Management LLC now owns 36,685 shares of the company's stock valued at $79,000 after purchasing an additional 23,272 shares in the last quarter.

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.