Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,710,000 shares, a growth of 84.7% from the February 28th total of 2,550,000 shares. Currently, 6.5% of the company’s stock are sold short. Based on an average daily volume of 4,210,000 shares, the short-interest ratio is presently 1.1 days.

Analyst Ratings Changes

HSAI has been the subject of a number of research analyst reports. Daiwa America raised Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. Daiwa Capital Markets began coverage on Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price objective for the company. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th. Finally, Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group Price Performance

Shares of NASDAQ HSAI opened at $15.20 on Monday. 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 firm’s 50-day simple moving average is $17.54 and its 200 day simple moving average is $11.23. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -34.55, a PEG ratio of 1.44 and a beta of 1.07. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $24.18.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HSAI. Jane Street Group LLC lifted its stake in 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 acquiring an additional 5,186 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the fourth quarter valued at about $138,000. Hsbc Holdings PLC purchased a new stake in shares of Hesai Group in the fourth quarter valued at about $159,000. Landscape Capital Management L.L.C. bought a new position in shares of Hesai Group during the fourth quarter valued at about $168,000. Finally, Fox Run Management L.L.C. purchased a new position in Hesai Group during the fourth quarter worth about $177,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.