Hesai Group (NASDAQ:HSAI) Hits New 52-Week High - Should You Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.79 and last traded at $16.24, with a volume of 1497418 shares trading hands. The stock had previously closed at $15.27.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley downgraded Hesai Group from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Trading Down 3.5 %

The firm has a market capitalization of $1.96 billion, a PE ratio of -35.09, a price-to-earnings-growth ratio of 1.76 and a beta of 1.24. 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 company's 50-day simple moving average is $12.69 and its 200 day simple moving average is $7.27.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted 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%. As a group, sell-side analysts expect that Hesai Group will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of Hesai Group by 44.1% in 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. 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 grew 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 buying an additional 5,186 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in Hesai Group in the 3rd quarter worth $924,000. Finally, Polunin Capital Partners Ltd lifted its position in Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company's stock worth $16,733,000 after acquiring an additional 183,417 shares during the period. 48.53% of the stock is owned by institutional investors and hedge funds.

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.