QuantaSing Group (NASDAQ:QSG) Shares Gap Up – Here’s Why

QuantaSing Group Limited Unsponsored ADR (NASDAQ:QSG) gapped up prior to trading on Tuesday . The stock had previously closed at $9.45, but opened at $9.98. QuantaSing Group shares last traded at $10.26, with a volume of 655,103 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QSG. Citigroup raised 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 report on Tuesday, June 10th. Wall Street Zen raised QuantaSing Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 28th.

QuantaSing Group Stock Down 1.1%

The company has a market cap of $487.01 million, a PE ratio of 8.57 and a beta of -0.96. The business has a 50-day simple moving average of $7.94 and a 200-day simple moving average of $4.58.

Institutional Trading of QuantaSing Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QSG. Geode Capital Management LLC purchased a new stake in QuantaSing Group in the fourth quarter valued at approximately $27,000. Millennium Management LLC raised its position in 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 period. NewEdge Advisors LLC increased its position 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 worth $119,000 after acquiring an additional 4,394 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of QuantaSing Group by 301.6% during the first quarter. Acadian Asset Management LLC now owns 93,158 shares of the company’s stock worth $369,000 after acquiring an additional 69,963 shares during the period.

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.