Stock Traders Buy High Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders bought 9,871 call options on the stock. This is an increase of 176% compared to the average volume of 3,580 call options.

Hesai Group Price Performance

NASDAQ HSAI traded down $1.56 on Friday, hitting $15.27. The stock had a trading volume of 4,392,628 shares, compared to its average volume of 1,988,291. The firm has a 50-day moving average of $17.62 and a 200-day moving average of $11.61. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -34.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. Hesai Group has a 52-week low of $3.52 and a 52-week high of $24.18.

Wall Street Analyst Weigh In

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

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Institutional Investors Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Polunin Capital Partners Ltd increased its stake in Hesai Group by 17.9% in the 4th 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 during the last quarter. Jane Street Group LLC increased its position in shares of 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 purchasing an additional 5,186 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Hesai Group in the fourth quarter valued at approximately $177,000. China Universal Asset Management Co. Ltd. lifted its position in Hesai Group by 49.2% during the fourth 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. Finally, Main Management ETF Advisors LLC purchased a new position in Hesai Group in the 3rd quarter worth approximately $924,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

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.