Hesai Group Sponsored ADR (NASDAQ:HSAI) Sees Large Growth in Short Interest

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 5,770,000 shares, a growth of 23.8% from the May 15th total of 4,660,000 shares. Based on an average daily trading volume, of 5,710,000 shares, the short-interest ratio is presently 1.0 days. Approximately 5.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of Hesai Group by 2,217.8% during the 1st quarter. Acadian Asset Management LLC now owns 112,276 shares of the company's stock worth $1,656,000 after acquiring an additional 107,432 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock worth $18,346,000 after acquiring an additional 961,493 shares during the period. Electron Capital Partners LLC purchased a new position in shares of Hesai Group during the 1st quarter worth about $946,000. Advisors Asset Management Inc. purchased a new position in shares of Hesai Group during the 1st quarter worth about $226,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Hesai Group during the 1st quarter worth about $2,972,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HSAI. Jefferies Financial Group began coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective on the stock. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Daiwa Capital Markets initiated coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $24.43.

Hesai Group Price Performance

HSAI stock traded down $0.13 during trading on Friday, hitting $18.11. The stock had a trading volume of 4,258,156 shares, compared to its average volume of 2,890,281. The company's 50 day moving average price is $17.68 and its two-hundred day moving average price is $16.32. Hesai Group has a 1-year low of $3.52 and a 1-year high of $24.18. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -603.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. The firm had revenue of $72.39 million during the quarter, compared to the consensus estimate of $532.16 million. On average, sell-side analysts forecast that Hesai Group will post -0.14 EPS for the current fiscal year.

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.