Hesai Group (NASDAQ:HSAI) Short Interest Down 33.5% in December

Hesai Group (NASDAQ:HSAI) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 791,600 shares, a decline of 33.5% from the December 15th total of 1,190,000 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 2,570,000 shares, the days-to-cover ratio is currently 0.3 days.

Hesai Group Trading Up 10.0 %

HSAI stock opened at $15.00 on Wednesday. The business has a fifty day moving average price of $9.85 and a 200 day moving average price of $6.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. Hesai Group has a fifty-two week low of $3.28 and a fifty-two week high of $16.35. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -34.09 and a beta of 1.24.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $5.50 to $18.40 in a report on Tuesday. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $5.80 to $15.00 in a report on Monday.

Institutional Trading of Hesai Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its holdings in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position 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 purchasing an additional 9,500 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Hesai Group by 44.1% during the second 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. Susquehanna Fundamental Investments LLC grew its stake in shares of Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after purchasing an additional 74,888 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Hesai Group in the third quarter valued at approximately $924,000. 48.53% of the stock is currently 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.