QuantaSing Group (NASDAQ:QSG) Shares Gap Up - Time to Buy?

Key Points

• QuantaSing Group shares opened at $9.11 after closing at $8.81, indicating a potential buying opportunity following the stock's recent performance and a last trading price of $9.82 with significant volume.
• Analyst reports show a mixed outlook with Citigroup upgrading the stock from "neutral" to "buy," while Wall Street Zen downgraded it from "buy" to "hold," establishing a consensus target price of $9.52.
• Following its quarterly earnings report in September, QuantaSing Group posted an EPS of $0.27, significantly exceeding analyst estimates, alongside a market capitalization of $511.08 million and a strong return on equity of 50.84%.

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $8.81, but opened at $9.11. QuantaSing Group shares last traded at $9.82, with a volume of 917,729 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QSG. Citigroup upgraded shares of QuantaSing Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $6.10 to $9.52 in a research note on Tuesday, June 10th. Wall Street Zen cut shares of QuantaSing Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, QuantaSing Group currently has an average rating of "Buy" and a consensus target price of $9.52.

QuantaSing Group Price Performance

The firm has a 50-day moving average of $8.67 and a 200 day moving average of $7.08. The stock has a market capitalization of $511.08 million, a price-to-earnings ratio of 11.09 and a beta of -0.99.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.12. The firm had revenue of $86.25 million for the quarter. QuantaSing Group had a return on equity of 50.84% and a net margin of 13.13%. On average, equities analysts forecast that QuantaSing Group Limited Unsponsored ADR will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On QuantaSing Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position 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 acquiring an additional 23,272 shares in the last quarter. NewEdge Advisors LLC raised its stake in 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 buying an additional 4,394 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of QuantaSing Group by 301.6% during the 1st quarter. Acadian Asset Management LLC now owns 93,158 shares of the company's stock valued at $369,000 after acquiring an additional 69,963 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in QuantaSing Group in the 2nd quarter worth $484,000. Finally, XTX Topco Ltd bought a new position in shares of QuantaSing Group during the 2nd quarter valued at about $440,000.

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.

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