Quantasing Group (NASDAQ:HERE) Authorizes Share Buyback Program
by Jessica Moore · The Cerbat GemQuantasing Group (NASDAQ:HERE – Get Free Report) announced that its board has initiated a share buyback plan on Friday, June 5th, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Quantasing Group Stock Down 24.9%
HERE traded down $0.59 on Friday, hitting $1.78. 431,343 shares of the stock traded hands, compared to its average volume of 122,298. Quantasing Group has a 52 week low of $1.71 and a 52 week high of $15.64. The company has a market cap of $97.29 million, a price-to-earnings ratio of 1.71 and a beta of -0.56. The business has a fifty day moving average of $3.05.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Quantasing Group from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Citigroup restated a “neutral” rating and set a $2.50 price target on shares of Quantasing Group in a research note on Wednesday, May 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Quantasing Group in a report on Monday, May 4th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Quantasing Group presently has an average rating of “Hold” and an average price target of $2.50.
Check Out Our Latest Report on Quantasing Group
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.