QuantaSing Group (NASDAQ:QSG) Stock Price Up 9% – Time to Buy?

QuantaSing Group Limited (NASDAQ:QSG) rose 9% on Monday . The stock traded as high as $12.51 and last traded at $11.93. Approximately 888,599 shares changed hands during mid-day trading, an increase of 96% from the average daily volume of 454,225 shares. The stock had previously closed at $10.95.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup upgraded shares of QuantaSing Group from a “neutral” rating to a “buy” rating and increased their price target 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 research report on Saturday, June 7th.

QuantaSing Group Stock Performance

The firm has a market cap of $655.46 million, a PE ratio of 12.91 and a beta of -1.43. The stock has a fifty day moving average price of $6.25 and a 200-day moving average price of $3.88.

Institutional Trading of QuantaSing Group

A number of institutional investors have recently modified their holdings of the company. 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 worth $79,000 after acquiring an additional 23,272 shares during the period. Geode Capital Management LLC acquired a new position in shares of QuantaSing Group in the 4th quarter valued at approximately $27,000. Acadian Asset Management LLC raised its position in shares of QuantaSing Group by 301.6% in the 1st 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 in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of QuantaSing Group by 17.4% during the 1st quarter. NewEdge Advisors LLC now owns 29,636 shares of the company’s stock valued at $119,000 after acquiring an additional 4,394 shares in the last quarter.

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.