Hesai Group (NASDAQ:HSAI) Shares Down 2.2% – Should You Sell?

Hesai Group (NASDAQ:HSAI)’s stock price fell 2.2% during trading on Friday . The stock traded as low as $19.91 and last traded at $20.10. 3,444,058 shares were traded during mid-day trading, a decline of 12% from the average session volume of 3,930,735 shares. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HSAI shares. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Daiwa Capital Markets started coverage on Hesai Group in a research note on Tuesday. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group Trading Down 3.7 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The stock has a market capitalization of $2.51 billion, a PE ratio of -44.76, a PEG ratio of 1.44 and a beta of 1.07. The stock’s 50 day simple moving average is $16.59 and its two-hundred day simple moving average is $9.97.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in HSAI. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the 4th quarter valued at about $138,000. Hsbc Holdings PLC bought a new position in shares of Hesai Group in the fourth quarter worth approximately $159,000. Landscape Capital Management L.L.C. purchased a new stake in Hesai Group in the fourth quarter valued at approximately $168,000. Fox Run Management L.L.C. bought a new stake in Hesai Group during the fourth quarter valued at approximately $177,000. Finally, Jane Street Group LLC grew its stake 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 in the last quarter. Institutional investors own 48.53% of the company’s stock.

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.