Quantasing Group (NASDAQ:HERE) Raised to “Hold” at Wall Street Zen

Quantasing Group (NASDAQ:HERE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also issued reports on HERE. Citigroup restated a “neutral” rating and issued a $2.50 target price on shares of Quantasing Group in a report on Wednesday, May 27th. Weiss Ratings lowered Quantasing Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $2.50.

Quantasing Group Price Performance

Quantasing Group stock opened at $1.85 on Friday. Quantasing Group has a 52 week low of $1.50 and a 52 week high of $13.63. The firm has a market cap of $101.12 million, a price-to-earnings ratio of 2.15 and a beta of -0.51. The business has a 50 day moving average price of $1.94.

Quantasing Group declared that its Board of Directors has approved a share buyback plan on Friday, June 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Quantasing Group

A number of hedge funds and other 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 valued at $72,000. Squarepoint Ops LLC acquired a new stake in Quantasing Group during the fourth quarter valued at $77,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Quantasing Group during the fourth quarter valued at $88,000. Invesco Ltd. purchased a new position in Quantasing Group in the fourth quarter valued at about $98,000. Finally, Renaissance Technologies LLC acquired a new position in Quantasing Group in the 4th quarter worth about $117,000.

Quantasing Group Company Profile

We believe that personal learning and development is a lifelong journey. Everyone, regardless of background, should be given an equal opportunity to pursue their interests, passions, and goals. Our mission is to improve people’s quality of life and well-being by providing them lifelong personal learning and development opportunities. QuantaSing Group is the largest online learning service provider in China’s adult learning market for personal interest courses and among the top five service providers in China’s total adult learning market, in terms of revenue in 2021, according to the F&S report.