QuantaSing Group (NASDAQ:QSG) Trading 3.9% Higher - Should You Buy?

Key Points

• QuantaSing Group (NASDAQ:QSG) stock rose by 3.9% to $9.97, although trading volume has dropped significantly, falling 53% from its average.
• Analysts have mixed ratings on the stock, with Citigroup upgrading it to a "buy" and a price target of $9.52, while Wall Street Zen downgraded it to a "hold."
• The company focuses on online learning services in China, offering various courses and programs as well as enterprise talent management services.

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report)'s stock price was up 3.9% on Tuesday . The company traded as high as $10.53 and last traded at $9.97. Approximately 413,571 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 875,333 shares. The stock had previously closed at $9.60.

Wall Street Analysts Forecast Growth

QSG has been the subject of a number of analyst reports. 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. Wall Street Zen downgraded shares of QuantaSing Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $9.52.

QuantaSing Group Stock Performance

The stock has a 50-day simple moving average of $8.69 and a 200 day simple moving average of $7.14. The stock has a market capitalization of $511.08 million, a P/E ratio of 11.09 and a beta of -0.99.

QuantaSing Group (NASDAQ:QSG - Get Free Report) last posted its quarterly 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. The business had revenue of $86.25 million for the quarter. QuantaSing Group had a return on equity of 47.31% and a net margin of 13.13%. Equities analysts predict that QuantaSing Group Limited Unsponsored ADR will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On QuantaSing Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oxbow Capital Management HK Ltd acquired a new stake in shares of QuantaSing Group in the 2nd quarter valued at approximately $4,725,000. Acadian Asset Management LLC increased its stake in 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 purchasing an additional 69,963 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in QuantaSing Group in the second quarter worth $484,000. XTX Topco Ltd bought a new position in shares of QuantaSing Group during the second quarter worth $440,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in QuantaSing Group during the second quarter worth about $373,000.

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.