Hesai Group Sees Unusually High Options Volume (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the target of unusually large options trading on Tuesday. Stock traders bought 4,502 put options on the stock. This represents an increase of approximately 57% compared to the typical daily volume of 2,859 put options.

Institutional Investors Weigh In On Hesai Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its stake in Hesai Group by 11.9% during the 3rd 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 in the last quarter. Main Management ETF Advisors LLC bought a new stake in Hesai Group in the third quarter worth about $924,000. China Universal Asset Management Co. Ltd. lifted its holdings in Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after acquiring an additional 14,500 shares during the last quarter. Polunin Capital Partners Ltd boosted its position 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 valued at $16,733,000 after purchasing an additional 183,417 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Hesai Group during the 4th quarter valued at about $177,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

HSAI traded down $1.80 on Tuesday, reaching $20.50. The company had a trading volume of 9,533,626 shares, compared to its average volume of 1,757,733. Hesai Group has a one year low of $3.52 and a one year high of $24.18. The company has a market capitalization of $2.60 billion, a P/E ratio of -46.61, a PEG ratio of 1.44 and a beta of 1.07. The company has a fifty day moving average of $16.83 and a 200-day moving average of $10.29. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

Analysts Set New Price Targets

Several analysts recently issued reports on HSAI shares. The Goldman Sachs Group raised 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. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Daiwa Capital Markets started coverage on Hesai Group in a research report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th.

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.