Hesai Group (NASDAQ:HSAI) Sets New 1-Year High – Time to Buy?

Shares of Hesai Group (NASDAQ:HSAI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $20.18 and last traded at $19.65, with a volume of 2516604 shares traded. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HSAI shares. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Up 7.0 %

The company’s 50 day simple moving average is $14.98 and its 200-day simple moving average is $8.47. The firm has a market cap of $2.52 billion, a P/E ratio of -44.98, a PEG ratio of 1.37 and a beta of 1.26. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

Hesai Group (NASDAQ:HSAI) last issued its quarterly 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%. Research analysts forecast that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 buying an additional 9,500 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Hesai Group during the fourth quarter valued at about $138,000. Hsbc Holdings PLC bought a new stake in Hesai Group during the fourth quarter valued at about $159,000. Landscape Capital Management L.L.C. purchased a new position in shares of Hesai Group in the fourth quarter valued at about $168,000. Finally, Fox Run Management L.L.C. bought a new stake in Hesai Group during the 4th quarter valued at approximately $177,000. 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.