Wall Street Zen Downgrades QuantaSing Group (NASDAQ:QSG) to Hold

Wall Street Zen cut shares of QuantaSing Group (NASDAQ:QSG - Free Report) from a buy rating to a hold rating in a report issued on Sunday morning.

Separately, Citigroup raised QuantaSing Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $6.10 to $9.52 in a report on Tuesday, June 10th.

QuantaSing Group Stock Up 8.2%

NASDAQ:QSG traded up $0.74 on Friday, reaching $9.76. 589,771 shares of the company's stock traded hands, compared to its average volume of 577,030. The stock has a 50-day simple moving average of $8.28 and a 200-day simple moving average of $4.82. The firm has a market cap of $499.81 million, a PE ratio of 8.79 and a beta of -0.96. QuantaSing Group has a 12 month low of $1.50 and a 12 month high of $15.64.

Institutional Investors Weigh In On QuantaSing Group

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in shares of 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 increased its holdings in shares of QuantaSing Group by 17.4% in the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company's stock worth $119,000 after purchasing 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 purchasing an additional 23,272 shares during the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of QuantaSing Group in the fourth quarter worth about $27,000.

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.