QuantaSing Group (NASDAQ:QSG) Rating Increased to Buy at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of QuantaSing Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.52.

QuantaSing Group Stock Performance

Shares of NASDAQ QSG opened at $7.65 on Friday. The stock has a market cap of $391.76 million, a PE ratio of 8.50 and a beta of -0.95. QuantaSing Group has a fifty-two week low of $1.60 and a fifty-two week high of $15.64. The stock has a fifty day moving average of $8.41 and a 200-day moving average of $7.97.

QuantaSing Group (NASDAQ:QSG) last announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The company had revenue of $86.25 million during the quarter. QuantaSing Group had a return on equity of 47.31% and a net margin of 13.13%. On average, sell-side analysts predict that QuantaSing Group will post 0.71 EPS for the current year.

Hedge Funds Weigh In On QuantaSing Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QSG. NewEdge Advisors LLC grew its position 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. Acadian Asset Management LLC grew its position 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. Caitong International Asset Management Co. Ltd purchased a new position in QuantaSing Group during the second quarter worth about $484,000. XTX Topco Ltd purchased a new position in QuantaSing Group during the second quarter worth about $440,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in QuantaSing Group during the second quarter worth about $373,000.

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.