Hesai Group Target of Unusually Large Options Trading (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the recipient of some unusual options trading activity on Tuesday. Traders purchased 4,502 put options on the stock. This represents an increase of 57% compared to the average daily volume of 2,859 put options.

Hesai Group Stock Up 0.9 %

HSAI opened at $20.75 on Thursday. The company has a market cap of $2.64 billion, a PE ratio of -47.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. Hesai Group has a twelve month low of $3.52 and a twelve month high of $24.18. The company has a 50-day moving average price of $17.09 and a 200 day moving average price of $10.48. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On Hesai Group

A number of hedge funds have recently made changes to their positions in HSAI. Lightspeed Management Company L.L.C. acquired a new stake in shares of Hesai Group in the fourth quarter worth approximately $110,560,000. Robert Bosch GmbH purchased a new position in Hesai Group in the 4th quarter valued at $105,768,000. Polunin Capital Partners Ltd boosted its stake in Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after purchasing an additional 183,417 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Hesai Group during the fourth quarter worth $14,736,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Hesai Group in the fourth quarter valued at about $9,496,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on HSAI shares. Morgan Stanley lowered 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 research report on Monday, January 13th. Daiwa Capital Markets assumed coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price target for the company. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th.

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.