Hesai Group (NASDAQ:HSAI) Sets New 52-Week High – Still a Buy?

Hesai Group (NASDAQ:HSAI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.18 and last traded at $24.08, with a volume of 26735936 shares trading hands. The stock had previously closed at $16.01.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a research note on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $5.50 to $18.40 in a report on Tuesday, January 14th.

Hesai Group Trading Up 50.4 %

The business has a 50 day simple moving average of $16.33 and a 200-day simple moving average of $9.81. 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 has a market capitalization of $3.06 billion, a price-to-earnings ratio of -54.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in Hesai Group during the fourth quarter worth approximately $138,000. Hsbc Holdings PLC acquired a new stake in shares of Hesai Group during the 4th quarter worth $159,000. Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group in the 4th quarter worth $168,000. Fox Run Management L.L.C. acquired a new position in Hesai Group in the fourth quarter valued at $177,000. Finally, Jane Street Group LLC grew its position in Hesai Group by 11.9% during the third 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 during the period. 48.53% of the stock is owned by institutional investors and hedge funds.

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.