QuantaSing Group (NASDAQ:QSG) Shares Gap Up - Still a 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)'s share price gapped up prior to trading 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on QSG shares. Wall Street Zen downgraded shares of QuantaSing Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $6.10 to $9.52 in a report on Tuesday, June 10th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $9.52.

QuantaSing Group Trading Down 0.1%

The stock's 50-day moving average price is $8.71 and its 200-day moving average price is $7.26. The stock has a market cap of $510.56 million, a price-to-earnings ratio of 11.08 and a beta of -0.98.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last released its earnings results on Wednesday, September 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.12. QuantaSing Group had a net margin of 13.13% and a return on equity of 47.31%. The business had revenue of $86.25 million for the quarter. As a group, analysts predict that QuantaSing Group Limited Unsponsored ADR will post 0.71 earnings per share for the current year.

Institutional Trading of QuantaSing Group

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new stake in QuantaSing Group in the second quarter worth $62,000. Millennium Management LLC grew its stake in shares of QuantaSing Group by 173.5% in 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. Tower Research Capital LLC TRC acquired a new position in QuantaSing Group during the 2nd quarter worth approximately $93,000. NewEdge Advisors LLC grew its position in 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 purchasing an additional 4,394 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in QuantaSing Group during the 2nd quarter valued at $160,000.

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.