QuantaSing Group (NASDAQ:QSG) Stock Price Down 3.1% - Should You Sell?

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) shares were down 3.1% on Tuesday . The stock traded as low as $8.69 and last traded at $8.78. Approximately 577,527 shares traded hands during trading, a decline of 35% from the average daily volume of 888,480 shares. The stock had previously closed at $9.06.

Analysts Set New Price Targets

QSG has been the subject of a number of recent research reports. Citigroup upgraded shares of QuantaSing Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $6.10 to $9.52 in a report on Tuesday, June 10th. Wall Street Zen cut shares of QuantaSing Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th.

QuantaSing Group Trading Down 3.0%

The stock's fifty day moving average price is $9.00 and its two-hundred day moving average price is $5.56. The firm has a market capitalization of $436.31 million, a price-to-earnings ratio of 7.68 and a beta of -0.96.

Institutional Trading of QuantaSing Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC increased its position in QuantaSing Group by 301.6% during the first 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. Millennium Management LLC increased its stake in 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 buying an additional 23,272 shares during the period. NewEdge Advisors LLC boosted its position 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, Geode Capital Management LLC acquired a new position in shares of QuantaSing Group in the fourth quarter worth about $27,000.

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.