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What's Going On With QuantaSing Group Stock?

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QuantaSing Group Limited (NASDAQ: QSG) is experiencing a decline in its stock price. This decline started after the release of its fourth-quarter earnings report last week.

Here’s What You Need to Know:

The company reported its fourth-quarter financial results on Friday, which led to a decrease in its stock price. Since the beginning of the week, the stock has continued to fall, with a 63% decline over the past five days. It’s worth mentioning that on Monday, QuantaSing Group announced its acquisition of Kelly’s Education, an online language education platform based in Hong Kong.

On Thursday, the stock experienced higher-than-average trading volume of 226,406 shares, compared to its average volume of 16,207. Furthermore, Noble Capital Markets initiated coverage on QuantaSing Group and gave it an Outperform rating, along with a Price Target of $10.

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Current Price Action:

As of the time of publication, shares of QuantaSing Group (QSG) were down 31.2% at $2.34, according to Benzinga Pro.

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