Point72 Asia Singapore Pte. Ltd. Invests $1.27 Million in Hesai Group (NASDAQ:HSAI)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Hesai Group (NASDAQ:HSAI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 91,699 shares of the company’s stock, valued at approximately $1,267,000.

Several other large investors also recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the fourth quarter valued at approximately $138,000. Hsbc Holdings PLC acquired a new position in Hesai Group during the fourth quarter worth $159,000. Landscape Capital Management L.L.C. purchased a new stake in Hesai Group in the 4th quarter valued at $168,000. Fox Run Management L.L.C. acquired a new stake in shares of Hesai Group in the 4th quarter worth $177,000. Finally, Oberweis Asset Management Inc. purchased a new position in shares of Hesai Group during the 4th quarter worth $387,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Performance

Shares of Hesai Group stock opened at $17.83 on Thursday. The business’s fifty day simple moving average is $16.38 and its 200-day simple moving average is $13.61. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.34 billion, a PE ratio of -40.52, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. Hesai Group has a 52 week low of $3.52 and a 52 week high of $24.18.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target on the stock. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th.

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.