28,553 Shares in Hesai Group (NASDAQ:HSAI) Purchased by Numerai GP LLC

Numerai GP LLC acquired a new stake in shares of Hesai Group (NASDAQ:HSAI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 28,553 shares of the company's stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Lightspeed Management Company L.L.C. purchased a new position in shares of Hesai Group in the fourth quarter worth approximately $110,560,000. Robert Bosch GmbH purchased a new position in Hesai Group during the fourth quarter valued at approximately $105,768,000. Millennium Management LLC purchased a new position in Hesai Group during the fourth quarter valued at approximately $14,736,000. D. E. Shaw & Co. Inc. purchased a new position in Hesai Group during the fourth quarter valued at approximately $9,265,000. Finally, Jump Financial LLC lifted its holdings in Hesai Group by 2,704.5% during the fourth quarter. Jump Financial LLC now owns 504,802 shares of the company's stock valued at $6,976,000 after purchasing an additional 486,802 shares in the last quarter. 48.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HSAI. Daiwa Capital Markets assumed coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a "buy" rating and a $35.00 price target on the stock. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th.

Hesai Group Trading Up 10.1%

HSAI stock traded up $1.78 during trading on Monday, hitting $19.46. The company had a trading volume of 5,036,032 shares, compared to its average volume of 2,612,661. The firm has a market capitalization of $2.55 billion, a P/E ratio of -44.23, a PEG ratio of 1.44 and a beta of 1.18. Hesai Group has a 52-week low of $3.52 and a 52-week high of $24.18. The company has a 50 day simple moving average of $16.27 and a 200-day simple moving average of $13.92. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

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.