Hesai Group (NASDAQ:HSAI) Sees Strong Trading Volume – Should You Buy?

Shares of Hesai Group (NASDAQ:HSAI) saw an uptick in trading volume on Friday . 1,953,701 shares traded hands during 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.

Wall Street Analyst Weigh In

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

Hesai Group Stock Performance

The firm has a market capitalization of $1.93 billion, a PE ratio of -34.55, a PEG ratio of 1.44 and a beta of 1.07. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $17.54 and a 200 day moving average of $11.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Hesai Group during the fourth quarter valued at approximately $138,000. Hsbc Holdings PLC bought a new stake in shares of Hesai Group during the 4th quarter worth $159,000. Landscape Capital Management L.L.C. purchased a new position in Hesai Group in the fourth quarter worth $168,000. Fox Run Management L.L.C. bought a new position in Hesai Group in the fourth quarter valued at $177,000. Finally, Jane Street Group LLC raised its position in Hesai Group by 11.9% during the third 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. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Company Profile

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.