Diker Management LLC Takes $1.24 Million Position in Hesai Group (NASDAQ:HSAI)

Diker Management LLC purchased a new stake in Hesai Group (NASDAQ:HSAI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 89,803 shares of the company's stock, valued at approximately $1,241,000. Hesai Group makes up about 1.1% of Diker Management LLC's investment portfolio, making the stock its 20th largest holding. Diker Management LLC owned 0.07% of Hesai Group at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HSAI. Renaissance Technologies LLC purchased a new stake in Hesai Group during the fourth quarter worth approximately $138,000. Hsbc Holdings PLC acquired a new position in shares of Hesai Group during the 4th quarter valued at $159,000. Landscape Capital Management L.L.C. purchased a new stake in Hesai Group during the 4th quarter worth $168,000. Fox Run Management L.L.C. acquired a new stake in Hesai Group in the 4th quarter valued at $177,000. Finally, Oberweis Asset Management Inc. purchased a new position in Hesai Group in the fourth quarter valued at about $387,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of NASDAQ:HSAI traded up $0.42 on Friday, hitting $16.36. The company's stock had a trading volume of 2,645,666 shares, compared to its average volume of 2,513,185. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -37.18, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The stock's 50-day moving average is $16.32 and its two-hundred day moving average is $13.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HSAI. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a research note on Tuesday, March 11th. They set a "buy" rating and a $35.00 price objective on the stock. Morgan Stanley downgraded shares of Hesai Group from an "overweight" rating to an "equal weight" rating and upped their target price 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 lifted their price target for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th.

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.