Hesai Group (NASDAQ:HSAI) Short Interest Down 33.5% in December

Hesai Group (NASDAQ:HSAI) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 791,600 shares, a decrease of 33.5% from the December 15th total of 1,190,000 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 2,570,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently made changes to their positions in the stock. Main Management ETF Advisors LLC acquired a new position in Hesai Group in the 3rd quarter valued at approximately $924,000. Susquehanna Fundamental Investments LLC raised its stake in shares of Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock valued at $605,000 after purchasing an additional 74,888 shares in the last quarter. Renaissance Technologies LLC lifted its position in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares during the period. Jane Street Group LLC boosted its stake in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares in the last quarter. Institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

NASDAQ:HSAI opened at $15.00 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The stock has a market cap of $1.91 billion, a P/E ratio of -34.09 and a beta of 1.24. The company has a fifty day moving average price of $9.85 and a 200 day moving average price of $6.30. Hesai Group has a one year low of $3.28 and a one year high of $16.35.

Wall Street Analyst Weigh In

HSAI has been the subject of a number of analyst reports. Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $5.80 to $15.00 in a research note on Monday. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.50 to $18.40 in a research report on Tuesday.

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.