QuantaSing Group (NASDAQ:QSG) Shares Gap Down - Here's Why

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $13.49, but opened at $12.50. QuantaSing Group shares last traded at $12.74, with a volume of 1,128,279 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QSG. Citigroup raised shares of QuantaSing Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $6.10 to $9.52 in a research report on Tuesday, June 10th. Wall Street Zen lowered shares of QuantaSing Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th.

QuantaSing Group Price Performance

The firm has a 50-day moving average of $7.13 and a 200 day moving average of $4.22. The stock has a market capitalization of $599.16 million, a price-to-earnings ratio of 10.45 and a beta of -1.43.

Institutional Investors Weigh In On QuantaSing Group

Several large investors have recently made changes to their positions in QSG. Acadian Asset Management LLC increased its holdings 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 buying an additional 69,963 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of QuantaSing Group by 17.4% in the 1st 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 period. Millennium Management LLC increased its stake 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, Geode Capital Management LLC acquired a new position in shares of QuantaSing Group during the 4th quarter worth about $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.