23,643 Shares in Hesai Group (NASDAQ:HSAI) Bought by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new stake in Hesai Group (NASDAQ:HSAI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,643 shares of the company's stock, valued at approximately $327,000.

Several other large investors have also recently added to or reduced their stakes in HSAI. Lightspeed Management Company L.L.C. acquired a new stake in Hesai Group in the 4th quarter valued at approximately $110,560,000. Robert Bosch GmbH acquired a new stake in Hesai Group in the 4th quarter valued at approximately $105,768,000. Millennium Management LLC acquired a new stake in Hesai Group in the 4th quarter valued at approximately $14,736,000. D. E. Shaw & Co. Inc. acquired a new stake in Hesai Group in the 4th quarter valued at approximately $9,265,000. Finally, Two Sigma Investments LP acquired a new stake in Hesai Group in the 4th quarter valued at approximately $7,084,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Price Performance

Shares of NASDAQ HSAI traded down $0.90 during mid-day trading on Tuesday, reaching $19.37. The company had a trading volume of 4,113,195 shares, compared to its average volume of 2,821,204. 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 stock has a market cap of $2.54 billion, a PE ratio of -44.02, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a 50-day moving average price of $16.72 and a two-hundred day moving average price of $15.69. Hesai Group has a 1-year low of $3.52 and a 1-year high of $24.18.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. The business had revenue of $72.39 million for the quarter, compared to analysts' expectations of $532.16 million. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. On average, equities analysts anticipate that Hesai Group will post -0.14 earnings per share for the current year.

Analyst Ratings Changes

HSAI has been the topic of several research analyst reports. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Jefferies Financial Group assumed coverage on Hesai Group in a research report on Monday. They set a "buy" rating and a $29.30 price target on the stock. Finally, Daiwa Capital Markets assumed coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $24.43.

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.