Fox Run Management L.L.C. Makes New Investment in Hesai Group (NASDAQ:HSAI)

Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group (NASDAQ:HSAI) in the 4th quarter, Holdings Channel reports. The fund purchased 12,791 shares of the company’s stock, valued at approximately $177,000.

A number of other large investors have also recently modified their holdings of the company. Polunin Capital Partners Ltd raised its position in 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. Main Management ETF Advisors LLC bought a new position in Hesai Group during the 3rd quarter worth about $924,000. Jane Street Group LLC raised its holdings in shares of Hesai Group by 11.9% in 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. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of 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 worth $608,000 after purchasing an additional 14,500 shares during the period. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

NASDAQ HSAI opened at $15.20 on Friday. The firm’s fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $11.12. The firm has a market capitalization of $1.93 billion, a P/E ratio of -34.55, a P/E/G ratio of 1.44 and a beta of 1.07. 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 has a 12-month low of $3.52 and a 12-month high of $24.18.

Analysts Set New Price Targets

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

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.