Hesai Group (NASDAQ:HSAI) Sees Unusually-High Trading Volume – Should You Buy?

Hesai Group (NASDAQ:HSAI) shares saw unusually-high trading volume on Wednesday . Approximately 1,937,393 shares traded hands during trading, an increase of 9% from the previous session’s volume of 1,777,230 shares.The stock last traded at $20.66 and had previously closed at $20.56.

Analyst Upgrades and Downgrades

HSAI has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised 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. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target on the stock. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $5.80 to $15.00 in a research report on Monday, January 13th. Finally, Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th.

Hesai Group Stock Down 7.2 %

The firm has a 50 day moving average price of $17.20 and a 200-day moving average price of $10.54. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -43.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently bought and sold shares of the company. Polunin Capital Partners Ltd lifted its holdings in Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after acquiring an additional 183,417 shares in the last quarter. Jane Street Group LLC raised its position in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Hesai Group by 49.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after purchasing an additional 14,500 shares in the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Hesai Group in the 3rd quarter valued at approximately $924,000. Finally, JPMorgan Chase & Co. bought a new stake in Hesai Group during the 4th quarter worth approximately $1,494,000. 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.