QuantaSing Group (NASDAQ:QSG) Shares Down 4.7% - Time to Sell?

Shares of QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) were down 4.7% during trading on Thursday . The stock traded as low as $10.05 and last traded at $9.98. 360,080 shares were traded during mid-day trading, a decline of 40% from the average session volume of 599,800 shares. The stock had previously closed at $10.47.

Analyst Ratings Changes

QSG has been the topic of several research reports. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $6.10 to $9.52 in a report on Tuesday, June 10th. Wall Street Zen cut QuantaSing Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th.

QuantaSing Group Trading Down 1.1%

The firm has a market capitalization of $530.56 million, a PE ratio of 9.33 and a beta of -0.96. The business's 50 day simple moving average is $8.59 and its 200 day simple moving average is $5.08.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QSG. Geode Capital Management LLC purchased a new stake in QuantaSing Group in the 4th quarter valued at about $27,000. Millennium Management LLC boosted its holdings in shares of QuantaSing Group by 173.5% in the fourth 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 during the period. NewEdge Advisors LLC grew its stake in QuantaSing Group by 17.4% in the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company's stock worth $119,000 after purchasing an additional 4,394 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in 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 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.

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