QuantaSing Group (NASDAQ:QSG) Sees Large Volume Increase - Should You Buy?

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,000,400 shares changed hands during mid-day trading, an increase of 98% from the previous session's volume of 506,384 shares.The stock last traded at $11.17 and had previously closed at $11.70.

Analysts Set New Price Targets

Several analysts have recently weighed in on QSG shares. Citigroup raised shares of 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. Wall Street Zen lowered QuantaSing Group from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th.

QuantaSing Group Price Performance

The company has a market capitalization of $451.67 million, a PE ratio of 7.95 and a beta of -1.43. The stock's 50 day simple moving average is $7.47 and its 200-day simple moving average is $4.36.

Institutional Investors Weigh In On QuantaSing Group

A number of hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its holdings in QuantaSing Group by 17.4% in the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company's stock valued at $119,000 after acquiring an additional 4,394 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of QuantaSing Group in the 4th quarter valued at $27,000. Millennium Management LLC lifted its position 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 worth $79,000 after purchasing an additional 23,272 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position 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 worth $369,000 after purchasing an additional 69,963 shares during 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.