Hesai Group (NASDAQ:HSAI) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Hesai Group (NASDAQ:HSAI) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat reports. The Goldman Sachs Group currently has $18.40 price objective on the stock, up from their prior price objective of $5.50.

Separately, Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $5.80 to $15.00 in a research report on Monday.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $14.89 on Tuesday. The company has a 50 day simple moving average of $10.07 and a two-hundred day simple moving average of $6.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. Hesai Group has a fifty-two week low of $3.28 and a fifty-two week high of $16.35. The company has a market capitalization of $1.89 billion, a PE ratio of -33.84 and a beta of 1.24.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HSAI. Main Management ETF Advisors LLC bought a new stake in Hesai Group in the third quarter valued at $924,000. Jane Street Group LLC grew its stake 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 buying an additional 5,186 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Hesai Group by 47.5% in 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. Susquehanna Fundamental Investments LLC raised its stake in Hesai Group by 107.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after buying an additional 74,888 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock valued at $208,000 after acquiring an additional 15,200 shares during the period. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.