Hesai Group (NASDAQ:HSAI) Shares Gap Up – What’s Next?

Hesai Group (NASDAQ:HSAI) shares gapped up before the market opened on Thursday . The stock had previously closed at $13.89, but opened at $15.33. Hesai Group shares last traded at $16.18, with a volume of 1,376,276 shares traded.

Analyst Ratings Changes

HSAI has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Price Performance

The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -38.23, a P/E/G ratio of 1.78 and a beta of 1.26. The company’s 50 day moving average is $13.21 and its 200 day moving average is $7.48.

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

Institutional Investors Weigh In On Hesai Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its position in shares of Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after purchasing an additional 9,500 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after purchasing an additional 15,200 shares during the last quarter. Polunin Capital Partners Ltd raised its holdings in shares of Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after buying an additional 183,417 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in Hesai Group in the third quarter valued at about $924,000. Institutional investors own 48.53% of the company’s 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.