Quantasing Group Ltd (NASDAQ:HERE) Sees Large Decline in Short Interest

by · The Cerbat Gem

Quantasing Group Ltd (NASDAQ:HERE – Get Free Report) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 366,881 shares, a drop of 57.4% from the June 15th total of 860,299 shares. Based on an average daily trading volume, of 153,952 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

HERE has been the subject of several research analyst reports. Wall Street Zen lowered Quantasing Group from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Citigroup reissued a “neutral” rating and issued a $2.50 target price on shares of Quantasing Group in a report on Wednesday, May 27th. Finally, Weiss Ratings cut Quantasing Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Quantasing Group currently has an average rating of “Reduce” and a consensus price target of $2.50.

Read Our Latest Research Report on HERE

Institutional Trading of Quantasing Group

Hedge funds have recently bought and sold shares of the stock. Fideuram Asset Management Ireland dac purchased a new stake in shares of Quantasing Group in the fourth quarter worth about $1,428,000. Invesco Ltd. bought a new position in shares of Quantasing Group during the 4th quarter valued at approximately $98,000. XTX Topco Ltd bought a new position in shares of Quantasing Group during the 4th quarter valued at approximately $247,000. Barclays PLC purchased a new position in shares of Quantasing Group in the fourth quarter valued at $329,000. Finally, Renaissance Technologies LLC bought a new stake in Quantasing Group in the fourth quarter worth $117,000.

Quantasing Group Price Performance

Shares of NASDAQ HERE traded down $0.07 during midday trading on Wednesday, reaching $1.78. The stock had a trading volume of 207,281 shares, compared to its average volume of 136,811. The company has a market cap of $97.29 million, a P/E ratio of 2.07 and a beta of -0.52. Quantasing Group has a 12-month low of $1.50 and a 12-month high of $13.63. The business’s 50-day simple moving average is $2.24.

Quantasing Group declared that its board has authorized a stock buyback plan on Friday, June 5th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase 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.

Quantasing Group Company Profile

(Get Free Report)

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.

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