Quantasing Group Ltd (NASDAQ:HERE) Short Interest Up 105.5% in July

Quantasing Group Ltd (NASDAQ:HERE) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 753,766 shares, an increase of 105.5% from the June 30th total of 366,881 shares. Based on an average daily trading volume, of 104,590 shares, the days-to-cover ratio is presently 7.2 days. Currently, 1.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HERE. Citigroup restated a “neutral” rating and set a $2.50 price target on shares of Quantasing Group in a report on Wednesday, May 27th. Weiss Ratings cut Quantasing Group from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen downgraded Quantasing Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $2.50.

Quantasing Group Trading Down 1.1%

HERE opened at $1.86 on Friday. The firm has a market cap of $101.67 million, a price-to-earnings ratio of 2.16 and a beta of -0.52. The stock has a 50 day moving average of $2.01. Quantasing Group has a twelve month low of $1.50 and a twelve month high of $13.63.

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

Institutional Trading of Quantasing Group

Large investors have recently modified their holdings of the company. Geode Capital Management LLC acquired a new position in Quantasing Group during the 4th quarter worth $72,000. Squarepoint Ops LLC acquired a new stake in Quantasing Group in the 4th quarter valued at approximately $77,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Quantasing Group in the 4th quarter worth approximately $88,000. Invesco Ltd. bought a new position in Quantasing Group in the 4th quarter worth approximately $98,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Quantasing Group during the fourth quarter worth approximately $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.