Hesai Group (NASDAQ:HSAI) Hits New 52-Week High - Time to Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as $17.55 and last traded at $16.81, with a volume of 7406554 shares traded. The stock had previously closed at $13.89.

Analysts Set New Price Targets

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

Hesai Group Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -38.43, a P/E/G ratio of 1.94 and a beta of 1.26. The business's 50 day moving average is $13.57 and its 200 day moving average is $7.68.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share (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, equities analysts expect that Hesai Group will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

Several institutional investors have recently modified their holdings of the stock. Main Management ETF Advisors LLC acquired a new stake in Hesai Group during the 3rd quarter worth $924,000. Polunin Capital Partners Ltd increased its position in shares of 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 purchasing an additional 183,417 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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. boosted its position in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company's stock valued at $608,000 after purchasing an additional 14,500 shares during the period. Finally, Jane Street Group LLC lifted its stake in Hesai Group by 11.9% in 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. 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.