Hesai Group Target of Unusually Large Options Trading (NASDAQ:HSAI)

Key Points

• Hesai Group experienced a significant increase in trading activity, with over 5,100 call options purchased, marking a 66% rise compared to its average daily volume.
• Jefferies Financial Group has given Hesai a buy rating with a price target of $29.30, while Morgan Stanley upgraded its rating to overweight with a price target increase to $26.00.
• Institutional investors now own 48.53% of Hesai Group's stock, with several hedge funds recently increasing their stakes in the company.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) saw unusually large options trading activity on Friday. Stock investors purchased 5,105 call options on the stock. Thisrepresentsanincreaseofapproximately66% compared to the average daily volume of 3,082 call options.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective for the company. Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $23.00 to $26.00 in a research report on Monday, July 28th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Hesai Group presently has an average rating of "Buy" and an average target price of $27.18.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted 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 during the last quarter. Bessemer Group Inc. purchased a new position in Hesai Group during the 2nd quarter valued at about $33,000. JTC Employer Solutions Trustee Ltd purchased a new position in Hesai Group during the 1st quarter valued at about $42,000. Daiwa Securities Group Inc. purchased a new position in Hesai Group during the 2nd quarter valued at about $108,000. Finally, Renaissance Technologies LLC purchased a new position in Hesai Group during the 4th quarter valued at about $138,000. Institutional investors own 48.53% of the company's stock.

Hesai Group Price Performance

HSAI stock traded up $1.60 during mid-day trading on Friday, hitting $24.92. 8,253,472 shares of the stock were exchanged, compared to its average volume of 4,245,421. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.06 and a quick ratio of 3.62. The business has a fifty day moving average price of $21.04 and a 200 day moving average price of $18.50. Hesai Group has a 12 month low of $3.56 and a 12 month high of $27.77. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -829.87 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. The firm had revenue of $98.61 million during the quarter. On average, sell-side analysts anticipate that Hesai Group will post -0.14 EPS for the current year.

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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