QuantaSing Group (NASDAQ:QSG) Shares Down 4.7% - What's Next?

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QSG shares. Wall Street Zen cut shares of QuantaSing Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Citigroup upgraded shares of QuantaSing Group from a "neutral" rating to a "buy" rating and raised their target price for the company from $6.10 to $9.52 in a research report on Tuesday, June 10th.

QuantaSing Group Trading Down 4.3%

The company's fifty day moving average is $8.72 and its 200 day moving average is $5.23. The company has a market cap of $484.45 million, a P/E ratio of 8.52 and a beta of -0.96.

Institutional Trading of QuantaSing Group

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings 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 worth $369,000 after buying an additional 69,963 shares in the last quarter. NewEdge Advisors LLC raised its stake in 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 purchasing an additional 4,394 shares in the last quarter. Millennium Management LLC raised its stake in QuantaSing Group by 173.5% during 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 in the last quarter. Finally, Geode Capital Management LLC purchased a new stake in QuantaSing Group during the fourth quarter valued at $27,000.

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.