Stock Traders Buy Large Volume of Hesai Group Call Options (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) saw unusually large options trading on Tuesday. Traders purchased 9,871 call options on the stock. This represents an increase of 176% compared to the typical daily volume of 3,580 call options.

Hesai Group Trading Up 17.8 %

HSAI opened at $17.43 on Wednesday. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -39.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. The company’s 50 day simple moving average is $17.55 and its two-hundred day simple moving average is $11.40. Hesai Group has a 1-year low of $3.52 and a 1-year 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.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Hesai Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Lightspeed Management Company L.L.C. purchased a new stake in Hesai Group in the 4th quarter valued at $110,560,000. Robert Bosch GmbH acquired a new position in shares of Hesai Group during the 4th quarter valued at about $105,768,000. Polunin Capital Partners Ltd grew its holdings in shares of Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after purchasing an additional 183,417 shares during the period. Millennium Management LLC purchased a new stake in shares of Hesai Group in the fourth quarter valued at about $14,736,000. Finally, Voloridge Investment Management LLC acquired a new stake in Hesai Group during the fourth quarter worth about $9,496,000. Hedge funds and other institutional investors 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.