Hesai Group (NASDAQ:HSAI) Stock Price Up 6.7% – What’s Next?

Hesai Group (NASDAQ:HSAI) rose 6.7% during mid-day trading on Tuesday . The company traded as high as $14.88 and last traded at $14.92. Approximately 762,262 shares were traded during trading, a decline of 68% from the average daily volume of 2,359,209 shares. The stock had previously closed at $13.98.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th.

Hesai Group Stock Performance

The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $11.81 and its two-hundred day moving average price is $6.98. The stock has a market capitalization of $1.91 billion, a PE ratio of -34.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. As a group, equities research analysts forecast that Hesai Group will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HSAI. Polunin Capital Partners Ltd grew its stake in Hesai Group by 17.9% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after acquiring an additional 183,417 shares during the period. Main Management ETF Advisors LLC acquired a new stake in shares of Hesai Group in the third quarter valued at about $924,000. Susquehanna Fundamental Investments LLC increased its stake in shares of Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after purchasing an additional 74,888 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the last quarter. 48.53% of the stock is owned by institutional investors and hedge funds.

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.