Hesai Group (NASDAQ:HSAI) Now Covered by Analysts at Daiwa Capital Markets

Investment analysts at Daiwa Capital Markets assumed coverage on shares of Hesai Group (NASDAQ:HSAI) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $35.00 price target on the stock. Daiwa Capital Markets’ price target points to a potential upside of 118.61% from the company’s previous close.

Several other analysts also recently weighed in on HSAI. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Trading Down 8.1 %

NASDAQ HSAI opened at $16.01 on Tuesday. The firm’s fifty day moving average price is $16.13 and its 200 day moving average price is $9.67. Hesai Group has a 12 month low of $3.52 and a 12 month high of $20.18. 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 company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -36.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07.

Institutional Trading of Hesai Group

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in Hesai Group in the 4th quarter valued at about $138,000. Hsbc Holdings PLC purchased a new stake in shares of Hesai Group during the 4th quarter valued at about $159,000. Landscape Capital Management L.L.C. acquired a new position in shares of Hesai Group during the fourth quarter worth $168,000. Fox Run Management L.L.C. acquired a new position in Hesai Group in the 4th quarter worth $177,000. Finally, Jane Street Group LLC boosted its holdings in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the last quarter. 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.