Traders Purchase High Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) saw some unusual options trading activity on Tuesday. Traders purchased 9,871 call options on the company. This represents an increase of 176% compared to the typical volume of 3,580 call options.

Institutional Trading of Hesai Group

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the fourth quarter worth approximately $138,000. Hsbc Holdings PLC purchased a new stake in shares of Hesai Group in the fourth quarter worth approximately $159,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Hesai Group during the fourth quarter worth approximately $168,000. Finally, Fox Run Management L.L.C. purchased a new position in Hesai Group during the fourth quarter valued at approximately $177,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Stock Performance

Shares of HSAI opened at $17.23 on Thursday. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18. The firm’s 50 day moving average is $17.58 and its 200-day moving average is $11.44. The stock has a market capitalization of $2.19 billion, a P/E ratio of -39.16, a P/E/G ratio of 1.44 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Analysts Set New Price Targets

A number of equities analysts have issued reports 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 target price for the company. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Finally, Daiwa America raised shares of Hesai Group to a “strong-buy” rating in a research 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.