Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI - Get Free Report) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,550,000 shares, a growth of 131.8% from the February 13th total of 1,100,000 shares. Approximately 3.5% of the company's shares are short sold. Based on an average daily volume of 3,810,000 shares, the short-interest ratio is presently 0.7 days.

Hesai Group Trading Down 8.8 %

NASDAQ:HSAI opened at $20.56 on Friday. Hesai Group has a one year low of $3.52 and a one year high of $24.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The company's 50-day simple moving average is $16.59 and its 200 day simple moving average is $9.97. The firm has a market capitalization of $2.61 billion, a P/E ratio of -46.73, a PEG ratio of 1.44 and a beta of 1.07.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently bought and sold shares of the business. Lightspeed Management Company L.L.C. bought a new stake in Hesai Group during the fourth quarter worth about $110,560,000. Robert Bosch GmbH bought a new stake in Hesai Group during the fourth quarter worth about $105,768,000. Polunin Capital Partners Ltd boosted its stake in 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 acquiring an additional 183,417 shares in the last quarter. Millennium Management LLC bought a new stake in Hesai Group during the fourth quarter worth about $14,736,000. Finally, Voloridge Investment Management LLC purchased a new position in Hesai Group in the fourth quarter worth about $9,496,000. Institutional investors own 48.53% of the company's stock.

Analysts Set New Price Targets

HSAI has been the topic of a number of research reports. Morgan Stanley lowered shares of Hesai Group from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $5.80 to $15.00 in a research note on Monday, January 13th. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a research note on Tuesday. They set a "buy" rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and lifted their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th.

Remove Ads

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.