Hesai Group (NASDAQ:HSAI) Shares Gap Up - Still a Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $13.89, but opened at $15.33. Hesai Group shares last traded at $16.18, with a volume of 1,376,276 shares traded.

Analyst Ratings Changes

HSAI has been the subject of a number of recent research reports. Morgan Stanley downgraded Hesai Group from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $5.50 to $18.40 in a report on Tuesday, January 14th.

Hesai Group Stock Up 1.7 %

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 company has a fifty day simple moving average of $13.57 and a 200-day simple moving average of $7.68. The firm has a market cap of $2.17 billion, a P/E ratio of -38.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its 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 anticipate that Hesai Group will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Polunin Capital Partners Ltd grew 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. Main Management ETF Advisors LLC purchased a new stake in Hesai Group during the 3rd quarter valued at approximately $924,000. Renaissance Technologies LLC raised its position in shares of Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company's stock valued at $208,000 after buying an additional 15,200 shares during the last quarter. 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 worth $230,000 after acquiring an additional 5,186 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Hesai Group by 49.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company's stock valued at $608,000 after acquiring an additional 14,500 shares in the last quarter. 48.53% of the stock is owned by 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.