D. E. Shaw & Co. Inc. acquired a new stake in shares of Hesai Group (NASDAQ:HSAI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 670,400 shares of the company's stock, valued at approximately $9,265,000. D. E. Shaw & Co. Inc. owned about 0.53% of Hesai Group as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Diker Management LLC purchased a new position in shares of Hesai Group during the 4th quarter worth $1,241,000. Bank of America Corp DE boosted its stake in Hesai Group by 2,015.6% in the 4th quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock worth $2,300,000 after buying an additional 158,590 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Hesai Group in the 4th quarter valued at about $1,000,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Hesai Group during the 4th quarter valued at about $1,705,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Hesai Group during the 4th quarter valued at about $651,000. Institutional investors and hedge funds own 48.53% of the company's stock.
Hesai Group Stock Up 1.2%
Shares of NASDAQ:HSAI traded up $0.23 during midday trading on Tuesday, hitting $19.69. 2,347,922 shares of the company's stock traded hands, compared to its average volume of 2,612,174. The firm's fifty day moving average price is $16.21 and its two-hundred day moving average price is $14.02. 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 twelve month low of $3.52 and a twelve month high of $24.18. The company has a market cap of $2.58 billion, a PE ratio of -44.74, a P/E/G ratio of 1.44 and a beta of 1.18.
Analysts Set New Price Targets
HSAI has been the subject of a number of recent analyst reports. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 target price for the company. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th.
Check Out Our Latest Stock Analysis on HSAI
About Hesai Group
(
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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