Hesai Group (NASDAQ:HSAI) Shares Up 9% – What’s Next?

Hesai Group (NASDAQ:HSAI) rose 9% during trading on Wednesday . The stock traded as high as $18.85 and last traded at $18.92. Approximately 991,453 shares were traded during trading, a decline of 70% from the average daily volume of 3,281,010 shares. The stock had previously closed at $17.36.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded 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. Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Up 8.4 %

The business’s 50 day moving average is $15.37 and its 200 day moving average is $8.85. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -42.62, a PEG ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Monday, November 25th. The company reported ($0.05) EPS for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. Sell-side analysts anticipate that Hesai Group will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Hesai Group by 47.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Hesai Group in the 4th quarter worth approximately $138,000. Hsbc Holdings PLC acquired a new stake in shares of Hesai Group during the 4th quarter worth approximately $159,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Hesai Group during the 4th quarter worth approximately $168,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Hesai Group during the 4th quarter valued at approximately $177,000. 48.53% of the stock is owned by institutional investors and hedge funds.

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.