Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group (NASDAQ:HSAI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $18.00, but opened at $18.80. Hesai Group shares last traded at $18.78, with a volume of 1,623,095 shares traded.

Analyst Upgrades and Downgrades

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

Hesai Group Trading Up 4.6 %

The stock’s 50 day moving average is $13.96 and its two-hundred day moving average is $7.86. The company has a market capitalization of $2.39 billion, a PE ratio of -42.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

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

Institutional Trading of Hesai Group

Hedge funds have recently added to or reduced their stakes in the business. Polunin Capital Partners Ltd lifted 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 acquiring an additional 183,417 shares during the period. Jane Street Group LLC lifted 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 valued at $230,000 after buying an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after buying an additional 9,500 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group during the third quarter valued at about $924,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Hesai Group during the fourth quarter valued at about $1,494,000. 48.53% of the stock is 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.