Hesai Group (NASDAQ:HSAI - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $17.35, but opened at $18.50. Hesai Group shares last traded at $18.31, with a volume of 1,682,695 shares trading hands.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on HSAI. Daiwa Capital Markets started coverage on shares of 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 upped their price target for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th. Morgan Stanley lowered shares of Hesai Group from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $5.80 to $15.00 in a report on Monday, January 13th. Finally, Daiwa America raised Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th.
Read Our Latest Stock Report on HSAI
Hesai Group Stock Down 1.9 %
The business's fifty day moving average price is $16.38 and its two-hundred day moving average price is $13.04. 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 firm has a market capitalization of $2.35 billion, a P/E ratio of -40.80, a PEG ratio of 1.44 and a beta of 1.17.
Hedge Funds Weigh In On Hesai Group
A number of large investors have recently made changes to their positions in HSAI. Lightspeed Management Company L.L.C. acquired a new position in Hesai Group during the 4th quarter valued at about $110,560,000. Robert Bosch GmbH acquired a new position in shares of Hesai Group during the fourth quarter valued at about $105,768,000. Allianz Asset Management GmbH purchased a new position in shares of Hesai Group in the 1st quarter valued at approximately $16,696,000. Millennium Management LLC acquired a new stake in Hesai Group in the 4th quarter worth approximately $14,736,000. Finally, Voloridge Investment Management LLC purchased a new stake in Hesai Group during the 4th quarter worth approximately $9,496,000. 48.53% of the stock is owned by institutional investors and hedge funds.
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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