Investors Purchase Large Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the target of unusually large options trading on Tuesday. Stock traders bought 9,871 call options on the stock. This represents an increase of approximately 176% compared to the typical volume of 3,580 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Hesai Group in the 4th quarter valued at approximately $138,000. Hsbc Holdings PLC bought a new stake in shares of Hesai Group during the 4th quarter valued at about $159,000. Landscape Capital Management L.L.C. acquired a new stake in Hesai Group during the fourth quarter worth about $168,000. Fox Run Management L.L.C. acquired a new stake in Hesai Group during the fourth quarter worth about $177,000. Finally, Jane Street Group LLC grew its position in 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 during the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Trading Up 17.3 %

Shares of HSAI stock traded up $2.56 on Tuesday, reaching $17.36. 11,034,684 shares of the stock were exchanged, compared to its average volume of 1,923,547. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.21 billion, a P/E ratio of -39.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The firm has a 50 day moving average of $17.52 and a two-hundred day moving average of $11.30. Hesai Group has a 1-year low of $3.52 and a 1-year high of $24.18.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HSAI. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target for the company. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Finally, Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $5.80 to $15.00 in a research note on Monday, January 13th.

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.