QuantaSing Group Limited (NASDAQ:QSG) shares are trading lower Thursday. The stock’s decline has accelerated since its fourth-quarter earnings report last week.
What To Know: Last Friday, QuantaSing reported fourth-quarter financial results, with shares trading lower in response. Since the beginning of the week, the stock fell further, with shares down over 63% over the past five days. It is also worth noting that on Monday, the company announced its acquisition of Kelly’s Education, an online language education platform based in Hong Kong.
Thursday’s price move was marked by above-average trading volume of 226,406 shares, compared to its average volume of 16,207. Also on Thursday, Noble Capital Markets initiated coverage on QuantaSing Group with a Outperform rating and announced a Price Target of $10.
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QSG Price Action: Shares of QSG were down 31.2% at $2.34 at the time of publication, according to Benzinga Pro.
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