Hesai Group (NASDAQ:HSAI) Reaches New 12-Month High - Should You Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $16.43 and last traded at $15.93, with a volume of 760689 shares traded. The stock had previously closed at $15.59.

Analyst Ratings Changes

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

Hesai Group Price Performance

The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.02 billion, a PE ratio of -36.16, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. The stock's 50-day moving average is $10.72 and its two-hundred day moving average is $6.61.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results 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%. On average, equities analysts predict that Hesai Group will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Main Management ETF Advisors LLC bought a new position in Hesai Group in the 3rd quarter worth about $924,000. Susquehanna Fundamental Investments LLC boosted 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. Renaissance Technologies LLC grew its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company's stock worth $208,000 after purchasing an additional 15,200 shares in the last quarter. Jane Street Group LLC increased its holdings 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 purchasing an additional 5,186 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company's stock valued at $138,000 after purchasing an additional 9,500 shares in 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.