Daiwa Capital Markets Begins Coverage on Hesai Group (NASDAQ:HSAI)

Analysts at Daiwa Capital Markets began coverage on shares of Hesai Group (NASDAQ:HSAI) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $35.00 price target on the stock. Daiwa Capital Markets’ price target points to a potential upside of 55.21% from the company’s previous close.

A number of other research firms also recently commented on HSAI. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group Trading Down 6.4 %

NASDAQ HSAI opened at $22.55 on Tuesday. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18. 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 company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -51.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $9.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HSAI. Jane Street Group LLC boosted its holdings 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. Main Management ETF Advisors LLC acquired a new position in shares of Hesai Group in the 3rd quarter valued at about $924,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock valued at $608,000 after buying an additional 14,500 shares during the period. Polunin Capital Partners Ltd boosted its holdings in shares of Hesai Group by 17.9% in the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after buying an additional 183,417 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Hesai Group in the 4th quarter valued at about $177,000. 48.53% of the stock is owned by institutional investors and hedge funds.

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.