Hesai Group (NASDAQ:HSAI) Hits New 12-Month High – Here’s Why

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on HSAI shares. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group raised 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 Stock Performance

The company has a 50 day simple moving average of $12.24 and a 200-day simple moving average of $7.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The stock has a market cap of $2.03 billion, a P/E ratio of -36.36, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. On average, equities analysts expect that Hesai Group will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Main Management ETF Advisors LLC bought a new stake in Hesai Group in the third quarter worth $924,000. Polunin Capital Partners Ltd lifted its stake in shares of Hesai Group by 17.9% in the 4th 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 last quarter. Susquehanna Fundamental Investments LLC lifted its stake in shares of Hesai Group by 107.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after acquiring an additional 74,888 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in Hesai Group by 49.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after acquiring an additional 14,500 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

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.