Stock Traders Buy Large Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 7,215 call options on the stock. This represents an increase of 256% compared to the average daily volume of 2,027 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lightspeed Management Company L.L.C. purchased a new stake in Hesai Group during the 4th quarter worth approximately $110,560,000. Robert Bosch GmbH purchased a new stake in shares of Hesai Group in the 4th quarter valued at approximately $105,768,000. Millennium Management LLC acquired a new stake in shares of Hesai Group in the 4th quarter valued at $14,736,000. Voloridge Investment Management LLC purchased a new stake in shares of Hesai Group during the 4th quarter worth $9,496,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Hesai Group during the fourth quarter worth $9,265,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Trading Up 34.4 %

Hesai Group stock traded up $5.51 during midday trading on Tuesday, reaching $21.52. 13,103,115 shares of the stock traded hands, compared to its average volume of 1,585,565. The firm has a market cap of $2.73 billion, a PE ratio of -50.14, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The company has a 50-day simple moving average of $16.13 and a two-hundred day simple moving average of $9.67. Hesai Group has a 12-month low of $3.52 and a 12-month high of $22.83.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HSAI. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $5.80 to $15.00 in a research report on Monday, January 13th. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th. Finally, Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday. They issued a “buy” rating and a $35.00 price objective on the 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.