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

Hesai Group (NASDAQ:HSAI)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $13.89, but opened at $15.33. Hesai Group shares last traded at $16.18, with a volume of 1,376,276 shares traded.

Analysts Set New Price Targets

HSAI has been the subject of several recent research reports. 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 raised their target price for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Price Performance

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 business’s 50-day simple moving average is $13.21 and its two-hundred day simple moving average is $7.48. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -38.23, a P/E/G ratio of 1.78 and a beta of 1.26.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Polunin Capital Partners Ltd grew its stake in Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after purchasing an additional 183,417 shares during the period. Main Management ETF Advisors LLC bought a new position in shares of Hesai Group during the 3rd quarter worth approximately $924,000. Renaissance Technologies LLC grew its position in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after buying an additional 15,200 shares during the period. Jane Street Group LLC increased its stake 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 valued at $230,000 after acquiring an additional 5,186 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Hesai Group by 49.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after acquiring an additional 14,500 shares during the period. 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.