Hesai Group (NASDAQ:HSAI) Shares Gap Up – Still a Buy?

Hesai Group (NASDAQ:HSAI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $14.80, but opened at $15.60. Hesai Group shares last traded at $15.89, with a volume of 1,678,875 shares trading hands.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Daiwa Capital Markets started coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Trading Down 1.1 %

The firm has a 50-day simple moving average of $17.58 and a 200-day simple moving average of $11.44. 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 stock has a market cap of $2.19 billion, a PE ratio of -39.16, a P/E/G ratio of 1.44 and a beta of 1.35.

Institutional Trading of Hesai Group

A number of institutional investors have recently added to or reduced their stakes in HSAI. GF Fund Management CO. LTD. bought a new stake in shares of Hesai Group during the fourth quarter valued at about $2,418,000. Voloridge Investment Management LLC bought a new stake in Hesai Group during the 4th quarter worth approximately $9,496,000. Squarepoint Ops LLC purchased a new stake in Hesai Group in the 4th quarter worth approximately $327,000. Two Sigma Advisers LP bought a new position in Hesai Group in the 4th quarter valued at $1,703,000. Finally, Two Sigma Investments LP purchased a new position in shares of Hesai Group during the 4th quarter valued at $7,084,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.