Hesai Group (NASDAQ:HSAI) Shares Up 9.2% – Should You Buy?

Hesai Group (NASDAQ:HSAI) was up 9.2% on Monday . The company traded as high as $13.35 and last traded at $13.34. Approximately 1,444,555 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 2,092,081 shares. The stock had previously closed at $12.21.

Analysts Set New Price Targets

Several analysts have commented on HSAI shares. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley downgraded 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 report on Monday, January 13th. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Daiwa Capital Markets initiated coverage on shares of Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price target for the company.

Hesai Group Trading Up 5.8 %

The firm has a market capitalization of $1.64 billion, a P/E ratio of -29.36, a P/E/G ratio of 1.44 and a beta of 1.35. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $17.33 and a 200-day simple moving average of $12.05.

Institutional Trading of Hesai Group

Several large investors have recently added to or reduced their stakes in the business. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Hesai Group during the 1st quarter worth $42,000. Jane Street Group LLC lifted its position in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Hesai Group during the fourth quarter valued at about $138,000. Sovereign Financial Group Inc. purchased a new stake in Hesai Group in the first quarter worth about $148,000. Finally, Hsbc Holdings PLC bought a new position in shares of Hesai Group in the fourth quarter worth about $159,000. 48.53% of the stock is currently owned by institutional investors.

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.