Quantasing Group Ltd (NASDAQ:HERE) Sees Large Drop in Short Interest

Quantasing Group Ltd (NASDAQ:HERE) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 234,184 shares, a decrease of 57.3% from the August 31st total of 548,832 shares. Based on an average trading volume of 20,020 shares, the days-to-cover ratio is presently 11.7 days. Approximately 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Quantasing Group

A number of large investors have recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Quantasing Group in the 4th quarter valued at about $88,000. SG Americas Securities LLC bought a new position in shares of Quantasing Group during the 1st quarter worth approximately $308,000. Finally, Oasis Management Co Ltd. purchased a new stake in Quantasing Group during the fourth quarter valued at approximately $479,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on HERE shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Quantasing Group in a research report on Friday, September 4th. Wall Street Zen upgraded shares of Quantasing Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $2.50.

Quantasing Group Trading Up 0.3%

Shares of NASDAQ:HERE traded up $0.01 on Tuesday, reaching $1.67. The company had a trading volume of 4,186 shares, compared to its average volume of 25,258. Quantasing Group has a 52-week low of $1.50 and a 52-week high of $9.48. The firm’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $2.41.

Quantasing Group announced that its Board of Directors has authorized a share repurchase plan on Friday, June 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

About Quantasing Group

We believe that personal learning and development is a lifelong journey. Everyone, regardless of background, should be given an equal opportunity to pursue their interests, passions, and goals. Our mission is to improve people’s quality of life and well-being by providing them lifelong personal learning and development opportunities. QuantaSing Group is the largest online learning service provider in China’s adult learning market for personal interest courses and among the top five service providers in China’s total adult learning market, in terms of revenue in 2021, according to the F&S report.