Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group (NASDAQ:HSAI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $14.80, but opened at $15.60. Hesai Group shares last traded at $15.89, with a volume of 1,678,875 shares traded.

Analyst Upgrades and Downgrades

HSAI has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Daiwa America raised Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. Daiwa Capital Markets initiated coverage on Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target for the company. Finally, Morgan Stanley downgraded 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.

Hesai Group Trading Up 11.1 %

The firm has a market cap of $2.09 billion, a P/E ratio of -37.47, a PEG ratio of 1.44 and a beta of 1.07. The company’s 50 day moving average is $17.52 and its two-hundred day moving average is $11.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65.

Institutional Trading of Hesai Group

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Hesai Group in the fourth quarter worth $138,000. Hsbc Holdings PLC acquired a new position in shares of Hesai Group in the 4th quarter valued at $159,000. Landscape Capital Management L.L.C. bought a new position in shares of Hesai Group during the 4th quarter worth about $168,000. Fox Run Management L.L.C. acquired a new stake in shares of Hesai Group during the 4th quarter valued at about $177,000. Finally, Jane Street Group LLC increased its stake in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after acquiring an additional 5,186 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.