Quantasing Group (NASDAQ:HERE) to Repurchase $0.00 in Outstanding Shares

Quantasing Group (NASDAQ:HERE) declared that its board has initiated a stock buyback plan on Friday, June 5th, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

HERE has been the subject of a number of recent analyst reports. Citigroup restated a “neutral” rating and issued a $2.50 price objective on shares of Quantasing Group in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Quantasing Group in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of Quantasing Group from a “sell” rating to a “hold” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.50.

Quantasing Group Stock Down 24.9%

Shares of HERE traded down $0.59 during midday trading on Friday, hitting $1.78. 431,343 shares of the company’s stock traded hands, compared to its average volume of 122,298. Quantasing Group has a 1 year low of $1.71 and a 1 year high of $15.64. The firm has a market cap of $97.29 million, a PE ratio of 1.71 and a beta of -0.56. The company’s fifty day moving average is $3.05.

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.