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

QuantaSing Group (NASDAQ:QSG) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

QuantaSing Group Stock Performance

Shares of QSG stock opened at $6.68 on Friday. The company has a market cap of $342.10 million, a P/E ratio of 6.75 and a beta of -1.43. The stock has a 50 day simple moving average of $5.72 and a two-hundred day simple moving average of $3.63. QuantaSing Group has a fifty-two week low of $1.47 and a fifty-two week high of $8.04.

QuantaSing Group (NASDAQ:QSG) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $99.55 million during the quarter, compared to the consensus estimate of $97.90 million. QuantaSing Group had a return on equity of 88.29% and a net margin of 10.67%. On average, research analysts predict that QuantaSing Group will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On QuantaSing Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC bought a new stake in shares of QuantaSing Group during the fourth quarter valued at approximately $27,000. Acadian Asset Management LLC grew its holdings in 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 buying an additional 69,963 shares in the last quarter. NewEdge Advisors LLC grew its holdings in 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. Finally, Millennium Management LLC grew its holdings in QuantaSing Group by 173.5% during the fourth quarter. Millennium Management LLC now owns 36,685 shares of the company’s stock worth $79,000 after buying an additional 23,272 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.