Hesai Group (NASDAQ:HSAI) Trading 9.2% Higher – Should You Buy?

Hesai Group (NASDAQ:HSAI)’s share price shot up 9.2% on Monday . The company traded as high as $13.35 and last traded at $13.34. 1,444,555 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 2,092,081 shares. The stock had previously closed at $12.21.

Wall Street Analyst Weigh In

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

Hesai Group Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The stock has a market capitalization of $1.49 billion, a PE ratio of -26.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. The stock’s 50 day moving average is $17.21 and its two-hundred day moving average is $12.10.

Hedge Funds Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC increased 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 worth $230,000 after purchasing an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Hesai Group by 49.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after buying an additional 14,500 shares in the last quarter. Polunin Capital Partners Ltd raised its position in shares of Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after buying an additional 183,417 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Hesai Group in the fourth quarter worth about $177,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Hesai Group in the fourth quarter worth about $1,494,000. Hedge funds and other institutional investors own 48.53% of the company’s 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.