Traders Buy High Volume of Call Options on Hesai Group (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) was the target of unusually large options trading activity on Friday. Stock traders acquired 5,105 call options on the stock. Thisisanincreaseof66% compared to the average volume of 3,082 call options.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company's stock valued at $515,000 after purchasing an additional 631 shares during the last quarter. Franklin Resources Inc. raised its stake in Hesai Group by 4.2% during the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company's stock valued at $429,000 after purchasing an additional 782 shares during the last quarter. Main Management ETF Advisors LLC raised its stake in Hesai Group by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company's stock valued at $1,367,000 after purchasing an additional 1,008 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new position in Hesai Group during the 2nd quarter valued at $33,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group assumed coverage on Hesai Group in a research report on Tuesday. They set a "buy" rating and a $35.00 price objective for the company. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. Finally, Jefferies Financial Group initiated coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a "buy" rating and a $29.30 target price for the company. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $28.74.

Hesai Group Stock Performance

HSAI traded up $0.52 during trading on Wednesday, hitting $25.91. The stock had a trading volume of 1,951,986 shares, compared to its average volume of 4,246,031. The firm has a market cap of $3.40 billion, a PE ratio of 287.89 and a beta of 1.12. Hesai Group has a 12 month low of $3.56 and a 12 month high of $27.94. The company has a current ratio of 3.18, a quick ratio of 3.62 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $21.51 and a 200-day simple moving average of $18.79.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.72). The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. Analysts expect 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.