Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group (NASDAQ:HSAI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.90, but opened at $15.74. Hesai Group shares last traded at $15.66, with a volume of 1,243,553 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HSAI. The Goldman Sachs Group raised 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 report on Tuesday, January 14th. Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Up 7.8 %

The firm has a market capitalization of $2.04 billion, a PE ratio of -36.53, a PEG ratio of 1.80 and a beta of 1.24. The stock has a 50 day simple moving average of $11.39 and a 200 day simple moving average of $6.81. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

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 return on equity of 6.79% and a negative net margin of 20.31%. As a group, sell-side analysts forecast that Hesai Group will post -0.17 earnings per share for the current year.

Institutional Trading of Hesai Group

Hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its position in shares of Hesai Group by 47.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after acquiring an additional 9,500 shares during the period. Renaissance Technologies LLC boosted its position in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares during the last quarter. Jane Street Group LLC raised 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 period. Susquehanna Fundamental Investments LLC increased its position in shares of Hesai Group by 107.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after purchasing an additional 74,888 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group in the 3rd quarter valued at approximately $924,000. 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.