QuantaSing Group (NASDAQ:QSG) Trading 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)'s stock price traded down 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 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 equities analysts recently commented on the stock. Citigroup upgraded shares of QuantaSing Group from a "neutral" rating to a "buy" rating and upped their target price for the company 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 research note on Sunday, July 6th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $9.52.

QuantaSing Group Trading Down 0.3%

The stock has a market cap of $450.65 million, a P/E ratio of 7.93 and a beta of -0.99. The company's fifty day simple moving average is $8.57 and its 200-day simple moving average is $6.77.

Institutional Investors Weigh In On QuantaSing Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in 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. Acadian Asset Management LLC grew its holdings in shares of QuantaSing Group by 301.6% in the 1st quarter. Acadian Asset Management LLC now owns 93,158 shares of the company's stock worth $369,000 after purchasing an additional 69,963 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of QuantaSing Group by 29.2% in the 2nd quarter. NewEdge Advisors LLC now owns 38,283 shares of the company's stock worth $362,000 after purchasing an additional 8,647 shares during the last quarter. Invesco Ltd. bought a new stake in shares of QuantaSing Group in the 2nd quarter worth about $182,000. Finally, Nomura Holdings Inc. bought a new stake in shares of QuantaSing Group in the 2nd quarter worth about $180,000.

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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