Susquehanna Fundamental Investments LLC Purchases Shares of 47,113 Hesai Group (NASDAQ:HSAI)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Hesai Group (NASDAQ:HSAI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 47,113 shares of the company's stock, valued at approximately $651,000.

Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in Hesai Group during the 4th quarter worth $138,000. Hsbc Holdings PLC purchased a new position in Hesai Group during the 4th quarter worth $159,000. Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group during the 4th quarter worth approximately $168,000. Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group during the 4th quarter worth $177,000. Finally, Oberweis Asset Management Inc. purchased a new stake in Hesai Group during the fourth quarter worth about $387,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Trading Down 3.7 %

Shares of NASDAQ HSAI traded down $0.67 during mid-day trading on Tuesday, hitting $17.28. 7,283,701 shares of the company traded hands, compared to its average volume of 2,457,745. The business has a 50 day moving average of $16.36 and a two-hundred day moving average of $13.13. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of -39.27, a PEG ratio of 1.44 and a beta of 1.17. Hesai Group has a 1 year low of $3.52 and a 1 year high of $24.18. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Analyst Upgrades and Downgrades

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

Hesai Group 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.