Hesai Group (NASDAQ:HSAI) Coverage Initiated by Analysts at Daiwa Capital Markets

Investment analysts at Daiwa Capital Markets initiated coverage on shares of Hesai Group (NASDAQ:HSAI) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Daiwa Capital Markets’ price target points to a potential upside of 118.61% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock 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 boosted their price target for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th.

Hesai Group Price Performance

HSAI stock opened at $16.01 on Tuesday. The business’s fifty day moving average price is $16.13 and its 200 day moving average price is $9.67. Hesai Group has a 12-month low of $3.52 and a 12-month high of $20.18. 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 company has a market capitalization of $2.03 billion, a PE ratio of -36.39, a P/E/G ratio of 1.44 and a beta of 1.07.

Institutional Trading of Hesai Group

A number of large investors have recently made changes to their positions in the company. Lightspeed Management Company L.L.C. purchased a new position in Hesai Group in the fourth quarter worth approximately $110,560,000. Robert Bosch GmbH purchased a new stake in shares of Hesai Group during the 4th quarter worth $105,768,000. Millennium Management LLC acquired a new position in shares of Hesai Group during the fourth quarter worth $14,736,000. Voloridge Investment Management LLC purchased a new position in Hesai Group in the fourth quarter valued at $9,496,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Hesai Group in the fourth quarter valued at $9,265,000. 48.53% of the stock is currently owned by hedge funds and other 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.