Investors Purchase Large Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Key Points

• Investors have shown increased interest in Hesai Group, as they purchased 4,332 call options, marking a 62% increase from the average daily volume.
• Several analysts have raised their price targets for Hesai Group, with Morgan Stanley setting a new target of $26.00 and UBS Group aiming for $35.00, solidifying its ratings as predominantly "Buy."
• Despite recent trading activity, Hesai Group reported a disappointing earnings miss, with earnings per share of $0.04 compared to the expected $0.76, leading to forecasts of -0.14 EPS for the current year.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) saw unusually large options trading on Monday. Stock investors acquired 4,332 call options on the stock. Thisisanincreaseofapproximately62% compared to the average daily volume of 2,674 call options.

Analysts Set New Price Targets

A number of research firms recently weighed in on HSAI. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $23.00 to $26.00 in a report on Monday, July 28th. Jefferies Financial Group initiated coverage on Hesai Group in a research note on Monday, June 9th. They set a "buy" rating and a $29.30 target price for the company. Finally, UBS Group assumed coverage on Hesai Group in a research note on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $28.74.

Institutional Trading of Hesai Group

Large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. boosted its position in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after acquiring an additional 1,249 shares during the period. Bessemer Group Inc. bought a new stake in shares of Hesai Group during the second quarter valued at about $33,000. JTC Employer Solutions Trustee Ltd acquired a new stake in Hesai Group in the first quarter worth about $42,000. Daiwa Securities Group Inc. bought a new position in Hesai Group in the 2nd quarter valued at about $108,000. Finally, Sovereign Financial Group Inc. acquired a new position in Hesai Group during the 1st quarter valued at about $148,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of HSAI stock traded up $2.02 during trading hours on Monday, reaching $28.51. The stock had a trading volume of 6,560,895 shares, compared to its average volume of 4,194,357. The firm has a market capitalization of $3.74 billion, a PE ratio of 316.78 and a beta of 1.13. The firm has a 50-day simple moving average of $23.01 and a 200-day simple moving average of $19.57. Hesai Group has a twelve month low of $3.56 and a twelve month high of $30.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). The firm 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%. As a group, equities analysts forecast that Hesai Group will post -0.14 earnings per share 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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