Hesai Group (NASDAQ:HSAI) Reaches New 1-Year High – Should You Buy?

Hesai Group (NASDAQ:HSAI)’s stock price reached a new 52-week high on Friday . The stock traded as high as $17.55 and last traded at $16.81, with a volume of 7406554 shares trading hands. The stock had previously closed at $13.89.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HSAI shares. Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th.

Hesai Group Stock Performance

The company has a fifty day moving average price of $13.21 and a two-hundred day moving average price of $7.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The company has a market capitalization of $2.14 billion, a P/E ratio of -38.20, a PEG ratio of 1.78 and a beta of 1.26.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Monday, November 25th. The company reported ($0.05) EPS for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. Equities analysts forecast that Hesai Group will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Main Management ETF Advisors LLC acquired a new stake in shares of Hesai Group in the third quarter valued at about $924,000. Polunin Capital Partners Ltd boosted its holdings in Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after acquiring an additional 183,417 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after purchasing an additional 14,500 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the last quarter. 48.53% of the stock is owned by institutional investors.

About Hesai Group

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.