QuantaSing Group (NASDAQ:QSG) Hits New 1-Year High - Still a Buy?

QuantaSing Group Limited (NASDAQ:QSG - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $9.90 and last traded at $9.78, with a volume of 5456048 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

QSG has been the subject of several analyst reports. Wall Street Zen cut QuantaSing Group from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $6.10 to $9.52 in a research report on Tuesday.

QuantaSing Group Price Performance

The stock has a market cap of $617.62 million, a P/E ratio of 12.18 and a beta of -1.43. The stock has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $3.70.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last released its quarterly earnings data 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. QuantaSing Group had a net margin of 10.67% and a return on equity of 88.29%. The business had revenue of $99.55 million during the quarter, compared to analysts' expectations of $97.90 million. As a group, sell-side analysts forecast that QuantaSing Group Limited will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On QuantaSing Group

Hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in shares of QuantaSing Group by 17.4% during 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 during the last quarter. Geode Capital Management LLC acquired a new stake in QuantaSing Group in the fourth quarter valued at $27,000. Millennium Management LLC lifted its holdings in 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 buying an additional 23,272 shares during the period. Finally, Acadian Asset Management LLC increased 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 during the period.

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.