Hesai Group (NASDAQ:HSAI - Get Free Report)'s stock price traded down 4.9% during mid-day trading on Thursday . The company traded as low as $19.75 and last traded at $19.73. 1,634,565 shares were traded during mid-day trading, a decline of 9% from the average session volume of 1,789,334 shares. The stock had previously closed at $20.75.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on HSAI. Daiwa Capital Markets initiated coverage on Hesai Group in a research report on Tuesday, March 11th. They set a "buy" rating and a $35.00 price objective for the company. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. Morgan Stanley downgraded shares of Hesai Group from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $5.80 to $15.00 in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th.
View Our Latest Analysis on HSAI
Hesai Group Stock Performance
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 has a market cap of $2.39 billion, a PE ratio of -42.84, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company's 50 day moving average price is $17.27 and its 200-day moving average price is $10.74.
Institutional Investors Weigh In On Hesai Group
A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Hesai Group in the fourth quarter valued at $138,000. Hsbc Holdings PLC bought a new stake in Hesai Group in the fourth quarter worth $159,000. Landscape Capital Management L.L.C. bought a new position in shares of Hesai Group during the fourth quarter valued at $168,000. Fox Run Management L.L.C. purchased a new position in shares of Hesai Group in the 4th quarter worth about $177,000. Finally, Jane Street Group LLC boosted 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 worth $230,000 after buying an additional 5,186 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.
About Hesai Group
(
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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