Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 1,100,000 shares, an increase of 115.3% from the January 31st total of 510,800 shares. Based on an average daily trading volume, of 3,960,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HSAI. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th.

Institutional Trading of Hesai Group

Several hedge funds have recently added to or reduced their stakes in HSAI. China Universal Asset Management Co. Ltd. raised its stake in 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 buying an additional 9,500 shares during the period. Jane Street Group LLC raised 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 purchasing an additional 5,186 shares during the period. Main Management ETF Advisors LLC acquired a new stake in shares of Hesai Group in the 3rd quarter valued at about $924,000. Polunin Capital Partners Ltd raised its stake in shares of Hesai Group by 17.9% in 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 period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Hesai Group in the 4th quarter valued at about $177,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Trading Down 0.3 %

HSAI traded down $0.06 during trading on Friday, reaching $17.91. 3,583,988 shares of the company’s stock were exchanged, compared to its average volume of 3,345,311. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $20.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The firm has a market capitalization of $2.28 billion, a PE ratio of -40.70, a P/E/G ratio of 1.44 and a beta of 1.26. The company’s fifty day moving average price is $15.78 and its 200-day moving average price is $9.12.

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.