Hesai Group (NASDAQ:HSAI) Sees Large Volume Increase – Here’s What Happened

Hesai Group (NASDAQ:HSAI) saw an uptick in trading volume on Friday . 1,208,848 shares traded hands during mid-day trading, a decline of 20% from the previous session’s volume of 1,516,610 shares.The stock last traded at $16.87 and had previously closed at $16.40.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HSAI. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and increased their target price 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 increased their target price for the stock from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Performance

The stock has a market cap of $2.21 billion, a PE ratio of -39.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. 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 50 day moving average price of $16.10 and a 200 day moving average price of $9.55.

Hedge Funds Weigh In On Hesai Group

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Hesai Group during the fourth quarter valued at $138,000. Hsbc Holdings PLC purchased a new position in Hesai Group in the fourth quarter valued at about $159,000. Landscape Capital Management L.L.C. purchased a new position in Hesai Group in the fourth quarter valued at about $168,000. Fox Run Management L.L.C. purchased a new position in Hesai Group in the fourth quarter valued at about $177,000. Finally, Squarepoint Ops LLC purchased a new position in Hesai Group in the fourth quarter valued at about $327,000. Hedge funds and other 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.