Hesai Group (NASDAQ:HSAI) Shares Gap Up - What's Next?

Hesai Group (NASDAQ:HSAI - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.90, but opened at $15.74. Hesai Group shares last traded at $15.66, with a volume of 1,243,553 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HSAI. Morgan Stanley downgraded shares of Hesai Group from an "overweight" rating to an "equal weight" rating and increased their price target for the stock from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group raised 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 note on Tuesday, January 14th.

Hesai Group Stock Up 4.0 %

The business has a 50-day moving average price of $11.62 and a 200-day moving average price of $6.88. The stock has a market cap of $1.97 billion, a PE ratio of -35.23, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted 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 net margin of 20.31% and a negative return on equity of 6.79%. As a group, analysts forecast that Hesai Group will post -0.17 earnings per share for the current year.

Institutional Trading of Hesai Group

Large investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake 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 purchased a new stake in shares of Hesai Group during the 3rd quarter valued at approximately $924,000. Jane Street Group LLC lifted its holdings 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 acquiring an additional 5,186 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its position in Hesai Group by 107.7% in the second 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 period. Finally, Renaissance Technologies LLC increased its stake in Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company's stock worth $208,000 after acquiring an additional 15,200 shares during the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

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.