Lightspeed Management Company L.L.C. acquired a new position in shares of Hesai Group (NASDAQ:HSAI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,000,000 shares of the company's stock, valued at approximately $110,560,000. Hesai Group accounts for approximately 30.9% of Lightspeed Management Company L.L.C.'s portfolio, making the stock its largest position. Lightspeed Management Company L.L.C. owned 6.30% of Hesai Group at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Hesai Group during the 4th quarter worth $138,000. Hsbc Holdings PLC bought a new position in Hesai Group during the 4th quarter worth $159,000. Landscape Capital Management L.L.C. bought a new position in Hesai Group during the 4th quarter worth $168,000. Fox Run Management L.L.C. bought a new position in Hesai Group during the 4th quarter worth $177,000. Finally, Oberweis Asset Management Inc. bought a new position in Hesai Group during the 4th quarter worth $387,000. Institutional investors own 48.53% of the company's stock.
Analysts Set New Price Targets
HSAI has been the topic of several recent analyst reports. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. Daiwa Capital Markets initiated coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target on the stock.
Check Out Our Latest Research Report on HSAI
Hesai Group Price Performance
Shares of HSAI traded up $0.32 during midday trading on Friday, hitting $17.68. The company's stock had a trading volume of 6,788,474 shares, compared to its average volume of 2,602,875. Hesai Group has a one year low of $3.52 and a one year high of $24.18. The company's fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $13.85. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -40.18, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18.
About Hesai Group
(
Free Report)
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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