QuantaSing Group (NASDAQ:QSG) Trading 1.5% Higher – Should You Buy?

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) shot up 1.5% during mid-day trading on Thursday . The company traded as high as $4.13 and last traded at $4.11. 63,128 shares changed hands during trading, a decline of 77% from the average session volume of 269,512 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of QuantaSing Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, QuantaSing Group has an average rating of “Moderate Buy” and an average price target of $9.52.

QuantaSing Group Stock Performance

The stock has a market cap of $210.48 million, a PE ratio of 4.57 and a beta of -0.98. The firm has a fifty day moving average price of $4.90 and a 200 day moving average price of $6.53.

Hedge Funds Weigh In On QuantaSing Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its position in QuantaSing Group by 319.3% during the 4th quarter. SG Americas Securities LLC now owns 86,894 shares of the company’s stock worth $522,000 after purchasing an additional 66,168 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new position in shares of QuantaSing Group in the 3rd quarter valued at $990,000. PharVision Advisers LLC purchased a new position in QuantaSing Group in the 3rd quarter worth $166,000. Verity Asset Management Inc. acquired a new stake in QuantaSing Group during the 3rd quarter worth about $348,000. Finally, Susquehanna International Group LLP purchased a new stake in QuantaSing Group during the 3rd quarter valued at about $142,000.

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. In addition, the company provides online and literacy course to adult learners under various brands, including QiNiu, JiangZhen, and QianChi. QuantaSing Group Limited was founded in 2019 and is headquartered in Beijing, the People's Republic of China.