Hesai Group (NASDAQ:HSAI - Get Free Report) shares saw an uptick in trading volume on Wednesday . 1,937,393 shares were traded during mid-day trading, an increase of 9% from the previous session's volume of 1,777,230 shares.The stock last traded at $20.66 and had previously closed at $20.56.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on HSAI. Daiwa Capital Markets began coverage on Hesai Group in a research report on Tuesday, March 11th. They set a "buy" rating and a $35.00 target price for the company. The Goldman Sachs Group upgraded shares of 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 research report on Tuesday, January 14th. Morgan Stanley lowered shares of Hesai Group from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. Finally, Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th.
Check Out Our Latest Research Report on Hesai Group
Hesai Group Stock Performance
The stock's 50-day simple moving average is $17.27 and its 200 day simple moving average is $10.74. 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 capitalization of $2.34 billion, a P/E ratio of -41.82, a PEG ratio of 1.44 and a beta of 1.07.
Institutional Investors Weigh In On Hesai Group
Institutional investors have recently modified their holdings of the business. Polunin Capital Partners Ltd raised its stake in Hesai Group by 17.9% in the 4th 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. Jane Street Group LLC grew its stake in shares of Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock worth $230,000 after purchasing an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Hesai Group by 49.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company's stock worth $608,000 after purchasing an additional 14,500 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in Hesai Group during the third quarter worth $924,000. Finally, JPMorgan Chase & Co. acquired a new position in Hesai Group in the fourth quarter valued at approximately $1,494,000. Institutional investors own 48.53% of the company's stock.
About Hesai Group
(
Get Free Report)
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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