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

Shares of Hesai Group (NASDAQ:HSAI) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.43 and last traded at $15.93, with a volume of 760689 shares changing hands. The stock had previously closed at $15.59.

Analysts Set New Price Targets

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

Hesai Group Trading Up 1.9 %

The firm has a 50 day moving average price of $10.72 and a two-hundred day moving average price of $6.61. 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 $2.02 billion, a P/E ratio of -36.17, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in shares of Hesai Group by 11.9% during the 3rd 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 during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of 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 buying an additional 9,500 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after purchasing an additional 15,200 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its position in Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after purchasing 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 valued at approximately $924,000. Institutional investors and hedge funds 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.