QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) Short Interest Update

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 increase in short interest during the month of July. As of July 15th, there was short interest totaling 839,400 shares, anincreaseof78.0% from the June 30th total of 471,700 shares. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 0.7 days. Approximately2.7% of the shares of the company are sold short. Approximately2.7% 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.

Institutional Trading of QuantaSing Group

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of QuantaSing Group in the 2nd quarter worth approximately $484,000. Acadian Asset Management LLC lifted 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 worth $369,000 after purchasing an additional 69,963 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of QuantaSing Group by 17.4% during 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 increased 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 worth $79,000 after buying an additional 23,272 shares during the period. Finally, Geode Capital Management LLC bought a new stake in shares of QuantaSing Group in the 4th quarter valued at about $27,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup upgraded QuantaSing Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $6.10 to $9.52 in a research note on Tuesday, June 10th. Wall Street Zen lowered shares of QuantaSing Group from a "buy" rating to a "hold" rating in a report on Sunday, July 6th.

QuantaSing Group Trading Down 3.0%

Shares of QSG traded down $0.25 during trading hours on Friday, reaching $8.00. 784,314 shares of the company's stock traded hands, compared to its average volume of 755,584. QuantaSing Group has a 12 month low of $1.50 and a 12 month high of $15.64. The stock has a market cap of $409.68 million, a PE ratio of 7.21 and a beta of -0.98. The firm's 50 day simple moving average is $9.31 and its 200-day simple moving average is $5.92.

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.