Short Interest in Hesai Group Sponsored ADR (NASDAQ:HSAI) Increases By 23.8%

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

Hedge Funds Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake 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 valued at $1,656,000 after buying an additional 107,432 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock valued at $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 in the first quarter valued at about $946,000. Advisors Asset Management Inc. bought a new position in shares of Hesai Group in the first quarter worth about $226,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Hesai Group during the first quarter worth about $2,972,000. Hedge funds and other institutional investors own 48.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 target price for the company. Jefferies Financial Group initiated coverage on Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective for the company. Finally, Daiwa America raised Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Hesai Group currently has a consensus rating of "Buy" and an average price target of $24.43.

Hesai Group Stock Performance

Shares of HSAI stock traded up $0.40 during mid-day trading on Thursday, reaching $18.24. 1,535,374 shares of the company's stock traded hands, compared to its average volume of 2,875,888. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The firm has a market capitalization of $2.39 billion, a PE ratio of -608.00 and a beta of 1.06. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18. The firm has a 50 day moving average price of $17.45 and a two-hundred day moving average price of $16.17.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Monday, May 26th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. The business had revenue of $72.39 million during the quarter, compared to analysts' expectations of $532.16 million. On average, research analysts forecast that Hesai Group will post -0.14 EPS for the current 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.