Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group (NASDAQ:HSAI) shares gapped up before the market opened on Wednesday . The stock had previously closed at $18.00, but opened at $18.80. Hesai Group shares last traded at $18.78, with a volume of 1,623,095 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HSAI shares. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $5.80 to $15.00 in a report on Monday, January 13th. The Goldman Sachs Group raised 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 report on Tuesday, January 14th.

Hesai Group Stock Performance

The business’s fifty day moving average is $13.96 and its two-hundred day moving average is $7.86. 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 stock has a market capitalization of $2.39 billion, a PE ratio of -42.80, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HSAI. China Universal Asset Management Co. Ltd. boosted its stake in Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after buying an additional 9,500 shares during the period. Jane Street Group LLC boosted its stake in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after buying an additional 5,186 shares during the period. Main Management ETF Advisors LLC purchased a new position in Hesai Group during the third quarter worth $924,000. Polunin Capital Partners Ltd boosted its stake in Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after buying an additional 183,417 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Hesai Group during the fourth quarter worth $177,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

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.