Traders Buy Large Volume of Put Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 4,502 put options on the stock. This is an increase of approximately 57% compared to the typical daily volume of 2,859 put options.

Hesai Group Price Performance

Shares of HSAI traded down $0.85 during mid-day trading on Friday, hitting $18.40. 6,148,667 shares of the company traded hands, compared to its average volume of 1,831,111. 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 capitalization of $2.34 billion, a price-to-earnings ratio of -41.82, a PEG ratio of 1.44 and a beta of 1.07. The business has a 50-day moving average of $17.27 and a 200 day moving average of $10.69. Hesai Group has a one year low of $3.52 and a one year high of $24.18.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently made changes to their positions in HSAI. Polunin Capital Partners Ltd lifted its stake in shares of 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 acquiring an additional 183,417 shares during the period. Jane Street Group LLC lifted its position in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock valued at $230,000 after purchasing an additional 5,186 shares during the period. China Universal Asset Management Co. Ltd. boosted 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 valued at $608,000 after purchasing an additional 14,500 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in shares of Hesai Group in the 3rd quarter valued at about $924,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Hesai Group during the 4th quarter worth approximately $1,494,000. 48.53% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HSAI shares. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target on the stock. Morgan Stanley lowered shares of Hesai Group from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $5.80 to $15.00 in a report on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th.

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.