QuantaSing Group (NASDAQ:QSG) Trading 9% Higher - Here's Why

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) shot up 9% during mid-day trading on Monday . The company traded as high as $12.51 and last traded at $11.93. 888,599 shares were traded during trading, an increase of 96% from the average session volume of 454,225 shares. The stock had previously closed at $10.95.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QSG. Wall Street Zen cut QuantaSing Group from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $6.10 to $9.52 in a report on Tuesday, June 10th.

QuantaSing Group Stock Up 3.1%

The company has a market capitalization of $690.82 million, a P/E ratio of 12.15 and a beta of -1.43. The stock has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $4.16.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised 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 valued at $369,000 after buying an additional 69,963 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of QuantaSing Group by 17.4% in the first 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. Millennium Management LLC raised its holdings in shares of QuantaSing Group by 173.5% in the fourth 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 last quarter. Finally, Geode Capital Management LLC bought a new position in shares of QuantaSing Group in the fourth quarter valued at about $27,000.

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.