Hesai Group (NASDAQ:HSAI) Shares Up 7.6% - What's Next?

Hesai Group (NASDAQ:HSAI - Get Free Report) shares were up 7.6% during mid-day trading on Tuesday . The company traded as high as $16.35 and last traded at $16.52. Approximately 302,628 shares traded hands during trading, a decline of 87% from the average daily volume of 2,304,162 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HSAI shares. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. 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 target price for the company. Morgan Stanley downgraded shares of 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 research report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded shares of Hesai Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $5.50 to $18.40 in a report on Tuesday, January 14th.

Hesai Group Stock Performance

The stock's fifty day moving average price is $16.36 and its two-hundred day moving average price is $12.82. 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 $2.42 billion, a P/E ratio of -42.00, a P/E/G ratio of 1.44 and a beta of 1.35.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. increased its stake in shares of Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after acquiring an additional 1,249 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in Hesai Group during the 1st quarter valued at $42,000. 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 valued at $230,000 after buying an additional 5,186 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Hesai Group during the fourth quarter worth $138,000. Finally, Sovereign Financial Group Inc. bought a new position in Hesai Group during the first quarter valued at about $148,000. 48.53% of the stock is owned by institutional investors.

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.