QuantaSing Group (NASDAQ:QSG) Upgraded at Citigroup

Citigroup upgraded shares of QuantaSing Group (NASDAQ:QSG) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $9.52 price objective on the stock, up from their prior price objective of $6.10.

Separately, Wall Street Zen downgraded QuantaSing Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 7th.

QuantaSing Group Stock Performance

QSG stock opened at $11.51 on Tuesday. The stock’s 50 day simple moving average is $6.11 and its 200 day simple moving average is $3.82. QuantaSing Group has a fifty-two week low of $1.47 and a fifty-two week high of $12.78. The company has a market cap of $589.45 million, a P/E ratio of 11.63 and a beta of -1.43.

QuantaSing Group (NASDAQ:QSG) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. QuantaSing Group had a return on equity of 88.29% and a net margin of 10.67%. The business had revenue of $99.55 million for the quarter, compared to the consensus estimate of $97.90 million. Equities analysts predict that QuantaSing Group will post 0.71 earnings per share for the current year.

Institutional Trading of QuantaSing Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in shares of QuantaSing Group by 17.4% in the first quarter. NewEdge Advisors LLC now owns 29,636 shares of the company’s stock worth $119,000 after purchasing an additional 4,394 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of QuantaSing Group in the fourth quarter valued at approximately $27,000. Millennium Management LLC grew its holdings in shares of 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 acquiring an additional 23,272 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of 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 acquiring an additional 69,963 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.