Hesai Group (NASDAQ:HSAI) Trading 6.7% Higher – What’s Next?

Shares of Hesai Group (NASDAQ:HSAI) shot up 6.7% on Tuesday . The stock traded as high as $14.88 and last traded at $14.92. 762,262 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,359,209 shares. The stock had previously closed at $13.98.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HSAI. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The firm has a market capitalization of $2.03 billion, a PE ratio of -36.36, a P/E/G ratio of 1.80 and a beta of 1.24. The stock has a fifty day moving average price of $12.24 and a 200-day moving average price of $7.11.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Monday, November 25th. The company reported ($0.05) earnings per share (EPS) for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. Sell-side analysts forecast that Hesai Group will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after buying an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after acquiring an additional 74,888 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after acquiring an additional 9,500 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after acquiring an additional 5,186 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Hesai Group in the 3rd quarter valued at approximately $924,000. 48.53% of the stock is owned by institutional investors and hedge funds.

About Hesai Group

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.