Short Interest in Quantasing Group Ltd (NASDAQ:HERE) Declines By 57.4%

Quantasing Group Ltd (NASDAQ:HERE) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 366,881 shares, a decrease of 57.4% from the June 15th total of 860,299 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 153,952 shares, the short-interest ratio is presently 2.4 days.

Quantasing Group Stock Up 3.4%

Shares of HERE traded up $0.06 on Tuesday, reaching $1.85. The stock had a trading volume of 98,130 shares, compared to its average volume of 136,204. Quantasing Group has a 12-month low of $1.50 and a 12-month high of $13.63. The firm has a market capitalization of $101.12 million, a price-to-earnings ratio of 2.15 and a beta of -0.52. The company’s 50-day moving average price is $2.30.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Quantasing Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC purchased a new stake in shares of Quantasing Group during the fourth quarter valued at approximately $72,000. Squarepoint Ops LLC purchased a new position in Quantasing Group in the 4th quarter worth approximately $77,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Quantasing Group in the 4th quarter valued at approximately $88,000. Invesco Ltd. bought a new position in Quantasing Group in the 4th quarter valued at approximately $98,000. Finally, Renaissance Technologies LLC purchased a new stake in Quantasing Group during the 4th quarter valued at $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.