Hesai Group (NASDAQ:HSAI) Trading 6.7% Higher – Here’s Why

Hesai Group (NASDAQ:HSAI) shares traded up 6.7% during trading on Tuesday . The stock traded as high as $14.88 and last traded at $14.92. 762,262 shares traded hands 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

A number of equities research analysts recently weighed in on HSAI shares. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group upgraded shares of 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 report on Tuesday, January 14th.

Hesai Group Stock 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 stock has a market cap of $1.91 billion, a PE ratio of -34.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The firm has a fifty day moving average price of $11.81 and a 200 day moving average price of $6.98.

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

Institutional Trading of Hesai Group

Several large investors have recently bought and sold shares of HSAI. China Universal Asset Management Co. Ltd. lifted 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 buying an additional 9,500 shares during the period. Jane Street Group LLC lifted its position 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 period. 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 valued at $208,000 after purchasing an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Hesai Group by 107.7% in 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 period. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Hesai Group in the third quarter worth about $924,000. Hedge funds and other 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.