Hesai Group (NASDAQ:HSAI) Reaches New 12-Month High – Here’s Why

Hesai Group (NASDAQ:HSAI)’s stock price reached a new 52-week high on Friday . The stock traded as high as $20.18 and last traded at $19.65, with a volume of 2516604 shares trading hands. The stock had previously closed at $18.51.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HSAI. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $5.80 to $15.00 in a research report on Monday, January 13th. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and lifted their target price 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 $14.98 and a 200 day moving average price of $8.47. 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 stock has a market cap of $2.52 billion, a P/E ratio of -44.98, a P/E/G ratio of 1.37 and a beta of 1.26.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. On average, equities analysts expect that Hesai Group will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after purchasing an additional 9,500 shares during the period. Renaissance Technologies LLC bought a new position in shares of Hesai Group during the 4th quarter valued at approximately $138,000. Hsbc Holdings PLC bought a new position in Hesai Group in the 4th quarter worth about $159,000. Landscape Capital Management L.L.C. purchased a new position in Hesai Group during the 4th quarter valued at about $168,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group in the fourth quarter worth about $177,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.