Jump Financial LLC Buys 486,802 Shares of Hesai Group (NASDAQ:HSAI)

Jump Financial LLC boosted its holdings in shares of Hesai Group (NASDAQ:HSAI - Free Report) by 2,704.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 504,802 shares of the company's stock after buying an additional 486,802 shares during the quarter. Jump Financial LLC owned approximately 0.40% of Hesai Group worth $6,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HSAI. Renaissance Technologies LLC purchased a new position in Hesai Group during the fourth quarter valued at approximately $138,000. Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group during the 4th quarter valued at $168,000. Fox Run Management L.L.C. bought a new position in Hesai Group in the 4th quarter worth $177,000. Jane Street Group LLC increased its stake in Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock worth $230,000 after buying an additional 5,186 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Hesai Group during the fourth quarter valued at about $414,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HSAI shares. 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 price objective for the company. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Morgan Stanley lowered shares of Hesai Group from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. Finally, Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th.

Hesai Group Price Performance

Shares of HSAI traded up $0.96 during mid-day trading on Monday, hitting $11.91. 3,815,521 shares of the stock were exchanged, compared to its average volume of 2,194,483. The firm has a 50-day moving average of $16.83 and a two-hundred day moving average of $12.28. Hesai Group has a 52-week low of $3.52 and a 52-week high of $24.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company has a market cap of $1.51 billion, a PE ratio of -27.08, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35.

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.