Hesai Group (NASDAQ:HSAI) Trading Up 6.3% – Here’s What Happened

Hesai Group (NASDAQ:HSAI) shares were up 6.3% during mid-day trading on Monday . The stock traded as high as $16.75 and last traded at $16.41. Approximately 1,132,543 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 2,197,405 shares. The stock had previously closed at $15.44.

Analyst Upgrades and Downgrades

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

Hesai Group Price Performance

The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The company has a 50 day simple moving average of $13.08 and a 200 day simple moving average of $7.44. The stock has a market cap of $1.99 billion, a P/E ratio of -35.66, a PEG ratio of 1.78 and a beta of 1.26.

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

Institutional Trading of Hesai Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its position in 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 valued at $138,000 after purchasing an additional 9,500 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 purchasing an additional 15,200 shares in the last quarter. 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 valued at $230,000 after buying an additional 5,186 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in shares of Hesai Group in the third quarter valued at $924,000. Finally, Polunin Capital Partners Ltd increased its holdings in Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after buying an additional 183,417 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

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.