Barclays PLC decreased its position in shares of Hesai Group (NASDAQ:HSAI - Free Report) by 48.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 111,861 shares of the company's stock after selling 106,379 shares during the period. Barclays PLC owned 0.09% of Hesai Group worth $1,546,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Hesai Group in the fourth quarter worth approximately $138,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Hesai Group during the 4th quarter valued at $168,000. Trexquant Investment LP acquired a new stake in shares of Hesai Group during the 4th quarter worth $1,667,000. Geode Capital Management LLC raised its position in shares of Hesai Group by 366.0% in the 4th quarter. Geode Capital Management LLC now owns 47,700 shares of the company's stock worth $659,000 after buying an additional 37,464 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in Hesai Group in the fourth quarter valued at $1,494,000. 48.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on HSAI. Daiwa Capital Markets began coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective on the stock. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and raised their price target for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Finally, Morgan Stanley lowered Hesai Group from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $5.80 to $15.00 in a research report on Monday, January 13th.
Check Out Our Latest Analysis on Hesai Group
Hesai Group Stock Performance
HSAI traded down $0.67 during trading hours on Tuesday, hitting $17.28. 7,283,701 shares of the stock were exchanged, compared to its average volume of 2,465,735. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18. The stock has a 50-day simple moving average of $16.36 and a 200-day simple moving average of $13.13. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -39.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.17.
About Hesai Group
(
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.
Further Reading
Before you consider Hesai Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hesai Group wasn't on the list.
While Hesai Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
