Hesai Group (NASDAQ:HSAI) Shares Sold by Oasis Management Co Ltd.

Oasis Management Co Ltd. lessened its position in shares of Hesai Group (NASDAQ:HSAI - Free Report) by 30.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the company's stock after selling 30,000 shares during the period. Oasis Management Co Ltd. owned about 0.06% of Hesai Group worth $967,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in Hesai Group in the fourth quarter valued at $138,000. Hsbc Holdings PLC acquired a new stake in shares of Hesai Group during the 4th quarter worth about $159,000. Landscape Capital Management L.L.C. purchased a new stake in Hesai Group during the fourth quarter worth approximately $168,000. Fox Run Management L.L.C. acquired a new position in shares of Hesai Group in the 4th quarter valued at $177,000. Finally, Oberweis Asset Management Inc. acquired a new position in shares of Hesai Group in the 4th quarter valued at $387,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Up 8.4%

HSAI stock opened at $17.74 on Tuesday. The stock has a market capitalization of $2.33 billion, a PE ratio of -40.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. Hesai Group has a one year low of $3.52 and a one year high of $24.18. The company has a fifty day moving average of $16.33 and a 200-day moving average of $13.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

Analysts Set New Price Targets

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

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.

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