Hesai Group (NASDAQ:HSAI) Hits New 52-Week High – What’s Next?

Hesai Group (NASDAQ:HSAI)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $16.79 and last traded at $16.24, with a volume of 1497418 shares trading hands. The stock had previously closed at $15.27.

Analysts Set New Price Targets

HSAI has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded shares of 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 cut Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th.

Hesai Group Trading 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 P/E/G ratio of 1.80 and a beta of 1.24. The stock’s 50-day simple moving average is $12.24 and its 200-day simple moving average is $7.11.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Monday, November 25th. The company reported ($0.05) earnings per share (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, sell-side analysts expect that Hesai Group will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSAI. China Universal Asset Management Co. Ltd. grew its position in shares of Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares during the period. Renaissance Technologies LLC increased its stake in shares of Hesai Group by 44.1% during the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after purchasing an additional 15,200 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after purchasing an additional 74,888 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Hesai Group in the 3rd quarter worth approximately $924,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

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.