Hesai Group (NASDAQ:HSAI) Shares Up 6.7% - Should You Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report) shares rose 6.7% during mid-day trading on Tuesday . The stock traded as high as $14.88 and last traded at $14.92. Approximately 762,262 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 2,359,209 shares. The stock had previously closed at $13.98.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley cut shares of Hesai Group from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group Price Performance

The company has a fifty day moving average of $12.69 and a 200-day moving average of $7.25. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.96 billion, a PE ratio of -35.09, a P/E/G ratio of 1.76 and a beta of 1.24.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly 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%. Sell-side analysts expect that Hesai Group will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Polunin Capital Partners Ltd increased its holdings in Hesai Group by 17.9% during the 4th 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 during the period. Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group during the third quarter worth approximately $924,000. Susquehanna Fundamental Investments LLC raised its holdings in 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 acquiring an additional 74,888 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company's stock worth $208,000 after acquiring an additional 15,200 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Hesai Group by 11.9% in 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. 48.53% of the stock is currently owned by hedge funds and other 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.