Hesai Group (NASDAQ:HSAI) Earns Buy Rating from Analysts at Daiwa Capital Markets

Daiwa Capital Markets assumed coverage on shares of Hesai Group (NASDAQ:HSAI) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $35.00 price target on the stock.

HSAI has been the subject of several other reports. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Price Performance

Hesai Group stock opened at $20.56 on Tuesday. Hesai Group has a 52 week low of $3.52 and a 52 week high of $24.18. The business has a 50-day simple moving average of $16.59 and a 200 day simple moving average of $9.97. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -46.73, a PEG ratio of 1.44 and a beta of 1.07.

Hedge Funds Weigh In On Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new position in shares of Hesai Group in the 4th quarter worth about $138,000. Hsbc Holdings PLC purchased a new position in shares of Hesai Group in the 4th quarter worth about $159,000. Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group in the 4th quarter worth about $168,000. Fox Run Management L.L.C. purchased a new position in shares of Hesai Group in the 4th quarter worth about $177,000. Finally, Jane Street Group LLC boosted its holdings in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares in the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Company Profile

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.