Hesai Group (NASDAQ:HSAI) Sees Large Volume Increase – Still a Buy?

Hesai Group (NASDAQ:HSAI) shares saw unusually-high trading volume on Friday . Approximately 1,953,701 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 1,862,461 shares.The stock last traded at $15.31 and had previously closed at $17.26.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HSAI shares. Daiwa Capital Markets began coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target on the stock. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $5.80 to $15.00 in a report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Stock Performance

The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $17.55 and its 200 day moving average price is $11.04. The firm has a market capitalization of $1.97 billion, a PE ratio of -35.48, a PEG ratio of 1.44 and a beta of 1.07.

Institutional Trading of Hesai Group

Large investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in shares of Hesai Group in the 4th quarter valued at $2,418,000. Voloridge Investment Management LLC acquired a new stake in shares of Hesai Group in the fourth quarter worth about $9,496,000. Squarepoint Ops LLC bought a new stake in shares of Hesai Group during the 4th quarter worth about $327,000. Two Sigma Advisers LP bought a new stake in shares of Hesai Group during the 4th quarter worth about $1,703,000. Finally, Two Sigma Investments LP acquired a new position in shares of Hesai Group during the 4th quarter valued at about $7,084,000. 48.53% of the stock is owned by 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.