Point72 Asset Management L.P. Makes New Investment in Hesai Group (NASDAQ:HSAI)

Point72 Asset Management L.P. purchased a new stake in Hesai Group (NASDAQ:HSAI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 213,523 shares of the company's stock, valued at approximately $2,951,000. Point72 Asset Management L.P. owned approximately 0.17% of Hesai Group as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Hesai Group in the 4th quarter valued at about $138,000. Hsbc Holdings PLC purchased a new position in Hesai Group during the 4th quarter valued at about $159,000. Landscape Capital Management L.L.C. purchased a new position in Hesai Group during the 4th quarter valued at about $168,000. Fox Run Management L.L.C. purchased a new position in Hesai Group during the 4th quarter valued at about $177,000. Finally, Oberweis Asset Management Inc. purchased a new position in Hesai Group during the 4th quarter valued at about $387,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HSAI shares. Daiwa America upgraded 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 set a "buy" rating and a $35.00 target price for the company.

Hesai Group Trading Down 0.8%

Shares of Hesai Group stock traded down $0.18 during mid-day trading on Friday, hitting $21.45. 4,869,224 shares of the stock were exchanged, compared to its average volume of 2,683,422. Hesai Group has a twelve month low of $3.52 and a twelve month high of $24.18. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -48.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a 50-day simple moving average of $16.20 and a 200 day simple moving average of $14.23. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

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.