Hesai Group (NASDAQ:HSAI) Shares Up 6.7% – Still a Buy?

Shares of Hesai Group (NASDAQ:HSAI) traded up 6.7% during trading on Tuesday . The stock traded as high as $14.88 and last traded at $14.92. 762,262 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,359,209 shares. The stock had previously closed at $13.98.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group Stock Up 4.8 %

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 has a market capitalization of $2.03 billion, a PE ratio of -36.36, a PEG ratio of 1.80 and a beta of 1.24. The company has a fifty day moving average price of $12.24 and a 200-day moving average price of $7.11.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.05) EPS for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. As a group, analysts expect that Hesai Group will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after buying an additional 74,888 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after buying an additional 9,500 shares in the last quarter. Jane Street Group LLC boosted its position in Hesai Group by 11.9% in 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 period. Finally, Main Management ETF Advisors LLC purchased a new stake in Hesai Group in the 3rd quarter valued at about $924,000. 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.