Hesai Group (NASDAQ:HSAI) Stock Rating Upgraded by The Goldman Sachs Group

Hesai Group (NASDAQ:HSAI) was upgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $18.40 price objective on the stock, up from their prior price objective of $5.50. The Goldman Sachs Group’s target price suggests a potential upside of 21.69% from the company’s current price.

Separately, Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $5.80 to $15.00 in a report on Monday.

Hesai Group Stock Up 0.8 %

HSAI stock opened at $15.12 on Tuesday. The business has a 50 day moving average of $9.85 and a 200 day moving average of $6.30. The firm has a market cap of $1.92 billion, a PE ratio of -34.36 and a beta of 1.24. Hesai Group has a twelve month low of $3.28 and a twelve month high of $16.35. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Hesai Group

Institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its holdings in Hesai Group by 47.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after acquiring an additional 9,500 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Hesai Group by 11.9% in the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after purchasing an additional 74,888 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Hesai Group during the third quarter valued at $924,000. Hedge funds and other institutional investors 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.