Hesai Group (NASDAQ:HSAI - Get Free Report) was up 6.6% during trading on Monday . The stock traded as high as $11.68 and last traded at $11.68. Approximately 944,409 shares were traded during trading, a decline of 57% from the average daily volume of 2,184,260 shares. The stock had previously closed at $10.95.
Wall Street Analyst Weigh In
Several research analysts have weighed in on HSAI shares. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. The Goldman Sachs Group raised Hesai Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th. Morgan Stanley lowered Hesai Group from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. Finally, Daiwa Capital Markets started coverage on shares of Hesai Group in a research note on Tuesday, March 11th. They set a "buy" rating and a $35.00 price objective for the company.
Read Our Latest Report on Hesai Group
Hesai Group Price Performance
The company has a 50 day simple moving average of $16.43 and a 200-day simple moving average of $12.48. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -34.77, a PEG ratio of 1.44 and a beta of 1.35. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.
Institutional Investors Weigh In On Hesai Group
Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC boosted its stake in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock valued at $230,000 after buying an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Hesai Group by 49.2% in 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. Polunin Capital Partners Ltd lifted 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 valued at $16,733,000 after purchasing an additional 183,417 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Hesai Group in the fourth quarter worth approximately $177,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Hesai Group in the fourth quarter valued at $1,494,000. Institutional investors own 48.53% of the company's stock.
Hesai Group Company Profile
(
Get Free Report)
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.
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