QuantaSing Group (NASDAQ:QSG) Lowered to “Hold” Rating by Wall Street Zen

QuantaSing Group (NASDAQ:QSG) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Separately, Citigroup raised shares of QuantaSing Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $6.10 to $9.52 in a research report on Tuesday, June 10th.

QuantaSing Group Price Performance

Shares of QuantaSing Group stock opened at $8.86 on Friday. The stock has a market cap of $453.72 million, a price-to-earnings ratio of 7.98 and a beta of -0.96. The firm’s 50-day moving average is $8.09 and its two-hundred day moving average is $4.69. QuantaSing Group has a 1 year low of $1.50 and a 1 year high of $15.64.

Institutional Investors Weigh In On QuantaSing Group

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC purchased a new position in shares of QuantaSing Group during the 4th quarter worth $27,000. NewEdge Advisors LLC grew 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 buying an additional 4,394 shares in the last quarter. Millennium Management LLC boosted its holdings 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 in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in 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 in 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.