QuantaSing Group (NASDAQ:QSG) Downgraded by Wall Street Zen 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 published on Sunday.

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

QuantaSing Group Price Performance

QSG stock traded down $0.65 during mid-day trading on Friday, reaching $8.86. 805,258 shares of the company's stock were exchanged, compared to its average volume of 572,031. The stock's 50 day moving average is $8.09 and its 200 day moving average is $4.69. QuantaSing Group has a 12-month low of $1.50 and a 12-month high of $15.64. The company has a market cap of $453.72 million, a price-to-earnings ratio of 7.98 and a beta of -0.96.

Hedge Funds Weigh In On QuantaSing Group

A number of hedge funds have recently made changes to their positions in QSG. Geode Capital Management LLC acquired a new stake in shares of QuantaSing Group in the fourth quarter valued at approximately $27,000. 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 valued at $79,000 after purchasing an additional 23,272 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 valued at $119,000 after purchasing an additional 4,394 shares during the last quarter. Finally, 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 valued at $369,000 after purchasing an additional 69,963 shares during the last quarter.

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.