Hesai Group (NASDAQ:HSAI) Shares Gap Up – Should You Buy?

Hesai Group (NASDAQ:HSAI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $14.90, but opened at $15.74. Hesai Group shares last traded at $15.66, with a volume of 1,243,553 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley cut 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, January 13th. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Stock Performance

The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.97 billion, a PE ratio of -35.23, a price-to-earnings-growth ratio of 1.80 and a beta of 1.24. The firm has a fifty day moving average price of $11.62 and a 200 day moving average price of $6.88.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Monday, November 25th. The company reported ($0.05) EPS for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. As a group, equities research analysts expect that Hesai Group will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Hesai Group by 44.1% during the 2nd quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares in the last quarter. Jane Street Group LLC grew its holdings 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 purchasing an additional 5,186 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after purchasing an additional 9,500 shares during the period. Susquehanna Fundamental Investments LLC boosted its position 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 worth $605,000 after buying an additional 74,888 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new stake in Hesai Group during the 3rd quarter valued at $924,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.