Oberweis Asset Management Inc. Acquires Shares of 28,000 Hesai Group (NASDAQ:HSAI)

Oberweis Asset Management Inc. bought a new position in Hesai Group (NASDAQ:HSAI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,000 shares of the company's stock, valued at approximately $387,000.

Several other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in Hesai Group in the fourth quarter worth about $138,000. Hsbc Holdings PLC acquired a new stake in shares of Hesai Group in the 4th quarter worth approximately $159,000. Landscape Capital Management L.L.C. bought a new position in shares of Hesai Group in the fourth quarter valued at approximately $168,000. Fox Run Management L.L.C. acquired a new position in shares of Hesai Group during the fourth quarter valued at approximately $177,000. Finally, Jane Street Group LLC raised its holdings in Hesai Group by 11.9% during the third 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. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Trading Up 0.4 %

Shares of NASDAQ:HSAI traded up $0.07 during midday trading on Wednesday, reaching $18.27. The company had a trading volume of 6,464,761 shares, compared to its average volume of 2,360,032. The company has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $12.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -41.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. Hesai Group has a 1-year low of $3.52 and a 1-year high of $24.18.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HSAI shares. Morgan Stanley cut Hesai Group from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target on the stock.

Hesai Group Company Profile

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.