Trexquant Investment LP Purchases Shares of 120,657 Hesai Group (NASDAQ:HSAI)

Trexquant Investment LP acquired a new stake in Hesai Group (NASDAQ:HSAI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 120,657 shares of the company's stock, valued at approximately $1,667,000. Trexquant Investment LP owned about 0.09% of Hesai Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in HSAI. Polunin Capital Partners Ltd boosted its stake in shares of Hesai Group by 17.9% in the 4th 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. JPMorgan Chase & Co. bought a new stake in shares of Hesai Group during the 4th quarter valued at $1,494,000. Geode Capital Management LLC boosted its position in shares of Hesai Group by 366.0% in the 4th quarter. Geode Capital Management LLC now owns 47,700 shares of the company's stock worth $659,000 after purchasing an additional 37,464 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 worth $608,000 after purchasing an additional 14,500 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Hesai Group in the fourth quarter valued at about $177,000. Institutional investors own 48.53% of the company's stock.

Analyst Ratings Changes

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

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Hesai Group Stock Down 9.2 %

Shares of HSAI stock traded down $1.20 on Tuesday, hitting $11.75. 2,585,258 shares of the stock were exchanged, compared to its average volume of 2,114,304. 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 firm has a market capitalization of $1.49 billion, a P/E ratio of -26.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $24.18. The business has a 50-day moving average of $17.31 and a 200 day moving average of $12.11.

Hesai Group 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.