Short Interest in Hesai Group (NASDAQ:HSAI) Expands By 131.8%

Hesai Group (NASDAQ:HSAI) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,550,000 shares, an increase of 131.8% from the February 13th total of 1,100,000 shares. Based on an average daily trading volume, of 3,810,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 3.5% of the company’s shares are short sold.

Hesai Group Stock Down 3.7 %

HSAI stock traded down $0.76 on Friday, reaching $19.80. 7,279,498 shares of the company traded hands, compared to its average volume of 1,693,491. Hesai Group has a one year low of $3.52 and a one year high of $24.18. 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 cap of $2.52 billion, a P/E ratio of -45.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The firm has a fifty day simple moving average of $16.68 and a 200-day simple moving average of $10.08.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group raised 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 report on Tuesday, January 14th. Daiwa Capital Markets began coverage on Hesai Group in a research report on Tuesday. They issued a “buy” rating and a $35.00 target price for the company. Finally, Daiwa America raised Hesai Group to a “strong-buy” rating in a research report on Tuesday.

Institutional Trading of Hesai Group

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in Hesai Group during the 4th quarter valued at $138,000. Hsbc Holdings PLC bought a new stake in shares of Hesai Group in the fourth quarter worth $159,000. Landscape Capital Management L.L.C. bought a new stake in shares of Hesai Group in the fourth quarter worth $168,000. Fox Run Management L.L.C. bought a new stake in shares of Hesai Group in the fourth quarter worth $177,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Hesai Group in the fourth quarter worth $327,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

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.