QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) Sees Large Growth in Short Interest

Key Points

• Short interest in QuantaSing Group Limited has surged by 78.0% in July, reaching a total of 839,400 shares, indicating increasing bearish sentiment among investors.
• Analysts have mixed views on the company, with Citigroup upgrading its rating to buy and raising the target price to $9.52, while Wall Street Zen downgraded it to hold.
• Hedge funds have shown interest in QuantaSing Group, with Caitong International Asset Management purchasing a new position worth approximately $484,000 and Acadian Asset Management increasing its stake by 301.6%.

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 839,400 shares, agrowthof78.0% from the June 30th total of 471,700 shares. Currently,2.7% of the shares of the company are sold short. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 0.7 days. Currently,2.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QSG. 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 worth $369,000 after acquiring an additional 69,963 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in QuantaSing Group during the second quarter worth about $484,000. Millennium Management LLC boosted 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 purchasing an additional 23,272 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of QuantaSing Group by 17.4% in 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 during the period. Finally, Geode Capital Management LLC acquired a new stake in shares of QuantaSing Group during the 4th quarter worth approximately $27,000.

QuantaSing Group Price Performance

QSG stock traded down $0.17 during trading on Friday, hitting $8.08. The stock had a trading volume of 165,835 shares, compared to its average volume of 902,460. The company's 50-day moving average price is $9.27 and its two-hundred day moving average price is $5.85. QuantaSing Group has a twelve month low of $1.50 and a twelve month high of $15.64. The stock has a market capitalization of $413.59 million, a P/E ratio of 7.27 and a beta of -0.98.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QSG shares. Wall Street Zen cut shares of 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 boosted their price objective for the company from $6.10 to $9.52 in a research report on Tuesday, June 10th.

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.