Hesai Group (NASDAQ:HSAI) Shares Gap Up – What’s Next?

Hesai Group (NASDAQ:HSAI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $14.90, but opened at $15.74. Hesai Group shares last traded at $15.66, with a volume of 1,243,553 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HSAI. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group raised shares of 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.

Hesai Group Stock Performance

The stock has a 50-day moving average price of $11.39 and a 200 day moving average price of $6.81. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -36.53, a P/E/G ratio of 1.80 and a beta of 1.24. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Monday, November 25th. The company reported ($0.05) EPS 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 forecast that Hesai Group will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HSAI. Jane Street Group LLC raised its stake in shares of 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 purchasing an additional 5,186 shares during the period. China Universal Asset Management Co. Ltd. boosted its position 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 valued at $138,000 after purchasing an additional 9,500 shares during the period. Renaissance Technologies LLC increased its position in Hesai Group by 44.1% in the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Hesai Group by 107.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after acquiring an additional 74,888 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new position in Hesai Group in the third quarter worth approximately $924,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.