QuantaSing Group (NASDAQ:QSG) Stock Rating Lowered by Wall Street Zen

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

QuantaSing Group Trading Up 19.5%

Shares of QSG stock opened at $6.68 on Friday. The business’s 50-day moving average price is $5.72 and its 200-day moving average price is $3.63. QuantaSing Group has a 12 month low of $1.47 and a 12 month high of $8.04. The firm has a market capitalization of $342.10 million, a price-to-earnings ratio of 6.75 and a beta of -1.43.

QuantaSing Group (NASDAQ:QSG) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.33 earnings per share (EPS) 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 company had revenue of $99.55 million during the quarter, compared to the consensus estimate of $97.90 million. On average, sell-side analysts predict that QuantaSing Group will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuantaSing Group

A number of hedge funds have recently made changes to their positions in QSG. Acadian Asset Management LLC raised its position in shares of 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 acquiring an additional 69,963 shares during the last quarter. Millennium Management LLC raised its position in shares of 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 acquiring an additional 23,272 shares during the last quarter. Geode Capital Management LLC bought a new stake in QuantaSing Group in the fourth quarter worth approximately $27,000. Finally, NewEdge Advisors LLC increased its holdings in 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 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.