Hesai Group (NASDAQ:HSAI) Trading 7.4% Higher – Here’s What Happened

Shares of Hesai Group (NASDAQ:HSAI) shot up 7.4% on Tuesday . The company traded as high as $18.74 and last traded at $18.35. 1,957,623 shares changed hands during trading, a decline of 31% from the average session volume of 2,838,046 shares. The stock had previously closed at $17.09.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HSAI shares. Morgan Stanley downgraded 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. The Goldman Sachs Group upgraded shares of 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 Price Performance

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -40.91, a P/E/G ratio of 1.94 and a beta of 1.26. 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 business’s 50-day simple moving average is $13.76 and its two-hundred day simple moving average is $7.77.

Hesai Group (NASDAQ:HSAI) last announced its earnings results 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, research analysts expect that Hesai Group will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. 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 purchasing an additional 9,500 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Hesai Group by 11.9% during the 3rd 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. Main Management ETF Advisors LLC bought a new position in shares of Hesai Group during the 3rd quarter worth $924,000. Finally, Polunin Capital Partners Ltd increased its holdings in Hesai Group by 17.9% in the 4th 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 last quarter. 48.53% of the stock is owned by 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.