QuantaSing Group (NASDAQ:QSG) Stock Price Down 0.3% - Here's Why

Key Points

• QuantaSing Group's stock price fell by 0.3% to $8.80, with a significant increase in trading volume, reaching 638,996 shares compared to the average of 473,221 shares.
• Analysts have mixed reviews, with Citigroup upgrading the stock's target price from $6.10 to $9.52 while Wall Street Zen downgraded it from "buy" to "hold."
• Institutional investor activity includes substantial increases in holdings, with Millennium Management raising its stake by 173.5% and Acadian Asset Management increasing by 301.6% in recent quarters.

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) fell 0.3% during trading on Wednesday . The stock traded as low as $8.36 and last traded at $8.80. 638,996 shares were traded during mid-day trading, an increase of 35% from the average session volume of 473,221 shares. The stock had previously closed at $8.83.

Analysts Set New Price Targets

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

QuantaSing Group Stock Performance

The stock has a market cap of $491.62 million, a P/E ratio of 8.65 and a beta of -0.98. The stock has a 50-day moving average price of $8.66 and a 200-day moving average price of $7.00.

Institutional Trading of QuantaSing Group

A number of large investors have recently modified their holdings of QSG. Millennium Management LLC boosted its position 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 valued at $79,000 after acquiring an additional 23,272 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of 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 in the last quarter. Acadian Asset Management LLC raised its holdings 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 buying an additional 69,963 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of QuantaSing Group during the 2nd quarter valued at about $484,000. Finally, XTX Topco Ltd purchased a new position in shares of QuantaSing Group during the 2nd quarter valued at about $440,000.

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.