Lightspeed Management Company L.L.C. purchased a new stake in shares of Hesai Group (NASDAQ:HSAI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,000,000 shares of the company's stock, valued at approximately $110,560,000. Hesai Group comprises approximately 30.9% of Lightspeed Management Company L.L.C.'s holdings, making the stock its largest holding. Lightspeed Management Company L.L.C. owned 6.30% of Hesai Group as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in shares of Hesai Group during the 4th quarter valued at $138,000. Hsbc Holdings PLC acquired a new stake in Hesai Group during the fourth quarter valued at $159,000. Landscape Capital Management L.L.C. purchased a new position in Hesai Group in the fourth quarter valued at about $168,000. Fox Run Management L.L.C. acquired a new position in Hesai Group in the 4th quarter worth about $177,000. Finally, Jane Street Group LLC raised its stake in shares of Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company's stock worth $230,000 after purchasing an additional 5,186 shares in the last quarter. 48.53% of the stock is owned by institutional investors.
Hesai Group Price Performance
HSAI traded down $0.47 during trading on Thursday, hitting $17.36. The company's stock had a trading volume of 2,014,431 shares, compared to its average volume of 2,563,141. 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 $2.28 billion, a price-to-earnings ratio of -39.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The firm's 50 day moving average price is $16.38 and its two-hundred day moving average price is $13.61. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a report on Tuesday, March 11th. Daiwa Capital Markets started coverage on Hesai Group in a report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 target price for the company.
Check Out Our Latest Stock Report on Hesai Group
Hesai Group Company Profile
(
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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