Hesai Group (NASDAQ:HSAI - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $11.61, but opened at $12.15. Hesai Group shares last traded at $13.11, with a volume of 827,889 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on HSAI. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley cut Hesai Group from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th. Daiwa America raised Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, 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 target for the company.
Check Out Our Latest Stock Report on Hesai Group
Hesai Group Stock Performance
The business has a fifty day simple moving average of $16.43 and a 200-day simple moving average of $12.53. The firm has a market cap of $2.01 billion, a P/E ratio of -34.77, a P/E/G ratio of 1.44 and a beta of 1.35. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.
Institutional Investors Weigh In On Hesai Group
A number of hedge funds and other institutional investors have recently bought and sold shares of HSAI. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Hesai Group in the 1st quarter worth approximately $42,000. Renaissance Technologies LLC bought a new stake in Hesai Group in the fourth quarter worth $138,000. Sovereign Financial Group Inc. bought a new position in shares of Hesai Group during the first quarter valued at $148,000. Hsbc Holdings PLC bought a new position in shares of Hesai Group during the fourth quarter valued at $159,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group in the 4th quarter worth about $168,000. Hedge funds and other institutional investors own 48.53% of the company's stock.
About Hesai Group
(
Get 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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