Hesai Group (NASDAQ:HSAI) Trading Up 6.3% - Time to Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report)'s stock price shot up 6.3% on Monday . The stock traded as high as $16.75 and last traded at $16.41. 1,132,543 shares traded hands during trading, a decline of 48% from the average session volume of 2,197,405 shares. The stock had previously closed at $15.44.

Analyst Upgrades and Downgrades

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

Hesai Group Trading Up 21.0 %

The stock has a market cap of $2.14 billion, a P/E ratio of -38.20, a price-to-earnings-growth ratio of 1.78 and a beta of 1.26. The stock's 50-day moving average is $13.21 and its two-hundred day moving average is $7.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. Equities research analysts anticipate that Hesai Group will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently bought and sold shares of the business. Polunin Capital Partners Ltd raised its position in shares of Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company's stock valued at $16,733,000 after buying an additional 183,417 shares in the last quarter. China Universal Asset Management Co. Ltd. increased 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 worth $608,000 after acquiring an additional 14,500 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in Hesai Group during the third quarter valued at approximately $924,000. Jane Street Group LLC lifted its stake in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock valued at $230,000 after purchasing an additional 5,186 shares during the last quarter. Finally, Renaissance Technologies LLC boosted 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 worth $208,000 after purchasing an additional 15,200 shares during the period. Hedge funds and other institutional investors own 48.53% of the company's stock.

About Hesai Group

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.