Hesai Group (NASDAQ:HSAI - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report released on Tuesday, Marketbeat.com reports. The firm presently has a $18.40 target price on the stock, up from their prior target price of $5.50. The Goldman Sachs Group's target price points to a potential upside of 22.67% from the stock's previous close.
Separately, Morgan Stanley cut shares of Hesai Group from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $5.80 to $15.00 in a report on Monday.
Check Out Our Latest Stock Analysis on HSAI
Hesai Group Trading Up 10.0 %
Shares of Hesai Group stock traded up $1.36 on Tuesday, hitting $15.00. The stock had a trading volume of 2,822,447 shares, compared to its average volume of 3,050,034. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -34.09 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 stock's 50-day simple moving average is $9.85 and its two-hundred day simple moving average is $6.30. Hesai Group has a one year low of $3.28 and a one year high of $16.35.
Hedge Funds Weigh In On Hesai Group
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted 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 during the period. Jane Street Group LLC boosted its position 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 period. China Universal Asset Management Co. Ltd. grew 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 valued at $138,000 after buying an additional 9,500 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its stake in shares of Hesai Group by 107.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company's stock worth $605,000 after acquiring an additional 74,888 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new position in Hesai Group during the 3rd quarter valued at $924,000. 48.53% of the stock is owned by hedge funds and other institutional investors.
Hesai Group Company Profile
(
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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.
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