Hesai Group Sees Unusually High Options Volume (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 8,642 call options on the company. This is an increase of approximately 366% compared to the typical volume of 1,854 call options.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HSAI shares. BNP Paribas Exane initiated coverage on Hesai Group in a research report on Thursday, March 26th. They issued an “outperform” rating for the company. Wall Street Zen downgraded Hesai Group from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after purchasing an additional 725 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Hesai Group during the 1st quarter worth approximately $51,000. Summit Securities Group LLC bought a new position in shares of Hesai Group in the 1st quarter valued at about $56,000. SBI Securities Co. Ltd. grew its position in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after acquiring an additional 746 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of Hesai Group during the 3rd quarter worth about $71,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Price Performance

HSAI opened at $18.23 on Thursday. The company has a fifty day moving average price of $19.84 and a two-hundred day moving average price of $22.72. The firm has a market capitalization of $2.55 billion, a PE ratio of 41.43, a P/E/G ratio of 0.70 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. Hesai Group has a 52 week low of $14.40 and a 52 week high of $30.85.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The firm had revenue of $98.71 million for the quarter, compared to analysts’ expectations of $96.50 million. As a group, analysts anticipate that Hesai Group will post 0.66 earnings per share for the current year.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.