Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,100,000 shares, a growth of 115.3% from the January 31st total of 510,800 shares. Based on an average daily volume of 3,960,000 shares, the short-interest ratio is currently 0.3 days. Approximately 1.5% of the company’s shares are short sold.

Hesai Group Stock Down 0.3 %

Shares of Hesai Group stock traded down $0.06 during midday trading on Friday, reaching $17.91. 3,583,988 shares of the company’s stock traded hands, compared to its average volume of 3,345,311. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -40.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company’s 50 day simple moving average is $15.78 and its 200 day simple moving average is $9.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. Hesai Group has a 52 week low of $3.52 and a 52 week high of $20.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lightspeed Management Company L.L.C. bought a new position in shares of Hesai Group during the 4th quarter valued at $110,560,000. Robert Bosch GmbH acquired a new position in Hesai Group during the 4th quarter worth $105,768,000. Polunin Capital Partners Ltd boosted its holdings in Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after acquiring an additional 183,417 shares during the period. Millennium Management LLC acquired a new stake in shares of Hesai Group in the fourth quarter valued at about $14,736,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Hesai Group in the fourth quarter worth about $9,496,000. Institutional investors own 48.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.