Hesai Group (NASDAQ:HSAI) Sees Strong Trading Volume – Still a Buy?

Hesai Group (NASDAQ:HSAI) shares saw strong trading volume on Monday . 4,077,543 shares changed hands during mid-day trading, an increase of 60% from the previous session’s volume of 2,554,594 shares.The stock last traded at $18.70 and had previously closed at $16.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and upped 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 current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $13.76 and its two-hundred day moving average is $7.77.

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 return on equity of 6.79% and a negative net margin of 20.31%. On average, analysts predict that Hesai Group will post -0.17 earnings per share for the current year.

Institutional Trading of Hesai Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Main Management ETF Advisors LLC bought a new position in shares of Hesai Group during the 3rd quarter worth approximately $924,000. Polunin Capital Partners Ltd lifted its holdings in Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after purchasing an additional 183,417 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Hesai Group by 49.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after purchasing an additional 14,500 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Hesai Group in the fourth quarter valued at $177,000. Finally, Jane Street Group LLC raised its position in shares of Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the period. 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.