QuantaSing Group (NASDAQ:QSG) Stock Price Down 2.3% - What's Next?

Key Points

• QuantaSing Group's stock price fell by 2.3% during trading, reaching a low of $8.34, and the trading volume was down 37% compared to its daily average.
• Analysts have mixed opinions on the stock, with Wall Street Zen downgrading it from "buy" to "hold," while Citigroup upgraded it from "neutral" to "buy" and set a price target of $9.52.
• In its latest earnings report, QuantaSing Group exceeded expectations with an earnings per share of $0.27 against a forecast of $0.15, and reported revenue of $86.25 million for the quarter.

Shares of QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) were down 2.3% during trading on Thursday . The stock traded as low as $8.34 and last traded at $8.54. Approximately 624,101 shares changed hands during trading, a decline of 37% from the average daily volume of 992,036 shares. The stock had previously closed at $8.74.

Wall Street Analyst Weigh In

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

QuantaSing Group Stock Performance

The business's 50 day moving average is $8.64 and its 200 day moving average is $7.55. The company has a market capitalization of $437.35 million, a price-to-earnings ratio of 9.49 and a beta of -0.95.

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

Hedge Funds Weigh In On QuantaSing Group

A number of institutional investors have recently bought and sold shares of the business. Oxbow Capital Management HK Ltd purchased a new position in QuantaSing Group during the 2nd quarter worth approximately $4,725,000. Acadian Asset Management LLC raised its position 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 buying an additional 69,963 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in QuantaSing Group during the 2nd quarter worth approximately $484,000. XTX Topco Ltd purchased a new position in QuantaSing Group during the 2nd quarter worth approximately $440,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in QuantaSing Group during the 2nd quarter worth approximately $373,000.

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.

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