Hesai Group (NASDAQ:HSAI) Sees Large Volume Increase – Here’s What Happened

Shares of Hesai Group (NASDAQ:HSAI) saw an uptick in trading volume on Friday . 1,208,848 shares traded hands during trading, a decline of 20% from the previous session’s volume of 1,516,610 shares.The stock last traded at $16.87 and had previously closed at $16.40.

Analysts Set New Price Targets

A number of research firms have recently commented on HSAI. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th. 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.

Hesai Group Stock Up 6.3 %

The stock has a market capitalization of $2.21 billion, a P/E ratio of -39.61, a P/E/G ratio of 1.44 and a beta of 1.07. The business has a 50-day moving average price of $16.10 and a 200 day moving average price of $9.55. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

Institutional Trading of Hesai Group

A number of institutional investors have recently bought and sold shares of HSAI. Jane Street Group LLC lifted its position in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in Hesai Group in the third quarter worth $924,000. China Universal Asset Management Co. Ltd. lifted its position in Hesai Group by 49.2% in 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 during the last quarter. Polunin Capital Partners Ltd lifted its position in Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after buying an additional 183,417 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Hesai Group in the fourth quarter worth $177,000. 48.53% of the stock is currently 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.