Hesai Group (NASDAQ:HSAI) Shares Gap Up – What’s Next?

Hesai Group (NASDAQ:HSAI) gapped up prior to trading on Thursday . The stock had previously closed at $13.89, but opened at $15.33. Hesai Group shares last traded at $16.18, with a volume of 1,376,276 shares.

Analyst Ratings Changes

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

Hesai Group Trading Down 0.1 %

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 business’s 50 day moving average is $13.40 and its two-hundred day moving average is $7.55.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. On average, analysts anticipate that Hesai Group will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently modified their holdings of the company. Polunin Capital Partners Ltd boosted its stake in Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after buying an additional 183,417 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Hesai Group by 49.2% in 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 bought a new position in shares of Hesai Group during the 3rd quarter valued at $924,000. Jane Street Group LLC raised its position in Hesai Group by 11.9% in the 3rd 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. Finally, Renaissance Technologies LLC lifted its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.

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.