Hesai Group (NASDAQ:HSAI – Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 7,215 call options on the company. This is an increase of 256% compared to the average volume of 2,027 call options.
Hesai Group Stock Performance
Shares of HSAI stock opened at $22.55 on Thursday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -51.25, a PEG ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company has a 50-day simple moving average of $16.51 and a 200 day simple moving average of $9.89. Hesai Group has a 52 week low of $3.52 and a 52 week high of $24.18.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a report on Tuesday. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $5.80 to $15.00 in a report on Monday, January 13th.
Read Our Latest Research Report on HSAI
Institutional Trading of Hesai Group
Several hedge funds and other institutional investors have recently bought and sold shares of HSAI. Renaissance Technologies LLC acquired a new position in shares of Hesai Group in the 4th quarter valued at approximately $138,000. Hsbc Holdings PLC bought a new stake in Hesai Group during the 4th quarter worth approximately $159,000. Landscape Capital Management L.L.C. bought a new stake in Hesai Group during the 4th quarter worth approximately $168,000. Fox Run Management L.L.C. bought a new stake in Hesai Group during the 4th quarter worth approximately $177,000. Finally, Jane Street Group LLC grew its holdings in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares during the last quarter. 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.
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