Hesai Group (NASDAQ:HSAI) Shares Gap Down – Here’s Why

Hesai Group (NASDAQ:HSAI) shares gapped down prior to trading on Monday . The stock had previously closed at $19.63, but opened at $18.42. Hesai Group shares last traded at $17.48, with a volume of 2,379,784 shares trading hands.

Analysts Set New Price Targets

HSAI has been the topic of several analyst reports. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $5.50 to $18.40 in a report on Tuesday, January 14th. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Up 3.2 %

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 P/E ratio of -40.47, a PEG ratio of 1.44 and a beta of 1.26. The business’s fifty day moving average price is $15.37 and its two-hundred day moving average price is $8.85.

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%. Equities analysts expect that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

A number of hedge funds have recently added to or reduced their stakes in the company. Polunin Capital Partners Ltd boosted its stake in shares of Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after acquiring an additional 183,417 shares in the last quarter. Jane Street Group LLC boosted 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 worth $230,000 after purchasing an additional 5,186 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Hesai Group by 47.5% in the third 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. Main Management ETF Advisors LLC purchased a new stake in shares of Hesai Group in the third quarter valued at approximately $924,000. Finally, Oberweis Asset Management Inc. acquired a new position in shares of Hesai Group during the 4th quarter worth approximately $387,000. 48.53% of the stock is owned by hedge funds and other 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.