Hesai Group (NASDAQ:HSAI) Trading 6.6% Higher - Still a Buy?

Hesai Group (NASDAQ:HSAI - Get Free Report)'s stock price rose 6.6% on Monday . The stock traded as high as $11.68 and last traded at $11.68. Approximately 944,409 shares traded hands during trading, a decline of 57% from the average daily volume of 2,184,260 shares. The stock had previously closed at $10.95.

Wall Street Analysts Forecast Growth

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

Hesai Group Stock Up 1.8 %

The firm has a 50-day moving average price of $16.43 and a two-hundred day moving average price of $12.48. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -34.77, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

Institutional Trading of Hesai Group

A number of institutional investors have recently modified their holdings of HSAI. Polunin Capital Partners Ltd lifted its stake in Hesai Group by 17.9% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company's stock valued at $16,733,000 after buying an additional 183,417 shares in the last quarter. Jump Financial LLC lifted its position in Hesai Group by 2,704.5% during the 4th quarter. Jump Financial LLC now owns 504,802 shares of the company's stock worth $6,976,000 after acquiring an additional 486,802 shares in the last quarter. Trexquant Investment LP acquired a new stake in Hesai Group during the 4th quarter valued at $1,667,000. Robert Bosch GmbH purchased a new stake in shares of Hesai Group during the fourth quarter worth about $105,768,000. Finally, Jane Street Group LLC raised its position in shares of 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 purchasing an additional 5,186 shares in the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Company Profile

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.