Quantasing Group Ltd (NASDAQ:HERE) Sees Significant Growth in Short Interest

Quantasing Group Ltd (NASDAQ:HERE) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 530,230 shares, an increase of 126.4% from the September 15th total of 234,184 shares. Based on an average daily volume of 28,530 shares, the short-interest ratio is presently 18.6 days. Approximately 1.0% of the company’s shares are sold short.

Quantasing Group Price Performance

Quantasing Group stock opened at $1.63 on Tuesday. Quantasing Group has a fifty-two week low of $1.50 and a fifty-two week high of $7.95. The firm’s 50 day simple moving average is $1.81 and its 200-day simple moving average is $2.30. The company has a market cap of $89.10 million, a P/E ratio of 14.82 and a beta of -0.47.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HERE. Weiss Ratings reiterated a “sell (d+)” rating on shares of Quantasing Group in a research report on Friday, September 4th. Wall Street Zen raised Quantasing Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Quantasing Group presently has an average rating of “Reduce” and a consensus target price of $2.50.

Hedge Funds Weigh In On Quantasing Group

An institutional investor recently bought a new stake in Quantasing Group stock. SG Americas Securities LLC acquired a new position in shares of Quantasing Group Ltd (NASDAQ:HERE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 87,121 shares of the company’s stock, valued at approximately $308,000. SG Americas Securities LLC owned approximately 0.16% of Quantasing Group as of its most recent filing with the Securities and Exchange Commission.

About Quantasing Group

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.