Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 4,710,000 shares, a growth of 84.7% from the February 28th total of 2,550,000 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily trading volume, of 4,210,000 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Hesai Group during the 4th quarter worth approximately $138,000. Hsbc Holdings PLC bought a new position in shares of Hesai Group in the fourth quarter valued at $159,000. Landscape Capital Management L.L.C. acquired a new position in Hesai Group during the fourth quarter worth $168,000. Fox Run Management L.L.C. bought a new stake in Hesai Group during the fourth quarter worth $177,000. Finally, Jane Street Group LLC lifted its stake in Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after acquiring an additional 5,186 shares during the last quarter. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Trading Down 11.9 %

Hesai Group stock opened at $15.20 on Friday. 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 firm has a 50-day moving average of $17.54 and a 200-day moving average of $11.12. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -34.55, a P/E/G ratio of 1.44 and a beta of 1.07. Hesai Group has a one year low of $3.52 and a one year high of $24.18.

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.