Hesai Group (NASDAQ:HSAI) Short Interest Down 33.5% in December

Hesai Group (NASDAQ:HSAI - Get Free Report) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 791,600 shares, a drop of 33.5% from the December 15th total of 1,190,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 2,570,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC boosted its position in 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. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 worth $138,000 after purchasing an additional 9,500 shares during the period. Renaissance Technologies LLC boosted its holdings 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 worth $208,000 after purchasing an additional 15,200 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its position 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. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group in the third quarter valued at $924,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Hesai Group Price Performance

HSAI stock traded up $0.12 during trading on Wednesday, hitting $15.12. The stock had a trading volume of 1,630,674 shares, compared to its average volume of 2,893,964. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -34.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company's 50 day moving average price is $9.85 and its two-hundred day moving average price is $6.30. Hesai Group has a 1-year low of $3.28 and a 1-year high of $16.35.

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.