Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,100,000 shares, an increase of 115.3% from the January 31st total of 510,800 shares. Based on an average daily trading volume, of 3,960,000 shares, the short-interest ratio is presently 0.3 days. Approximately 1.5% of the shares of the company are sold short.

Hesai Group Trading Down 0.3 %

Shares of NASDAQ:HSAI traded down $0.06 during trading on Friday, reaching $17.91. The company’s stock had a trading volume of 3,583,988 shares, compared to its average volume of 3,345,311. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. Hesai Group has a 12 month low of $3.52 and a 12 month high of $20.18. The firm’s 50 day simple moving average is $15.78 and its two-hundred day simple moving average is $9.08. The stock has a market capitalization of $2.28 billion, a PE ratio of -40.70, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HSAI. Morgan Stanley downgraded 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. The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC purchased a new stake in Hesai Group in the 4th quarter worth about $138,000. Hsbc Holdings PLC purchased a new stake in Hesai Group in the 4th quarter worth about $159,000. Landscape Capital Management L.L.C. purchased a new stake in Hesai Group in the 4th quarter worth about $168,000. Fox Run Management L.L.C. purchased a new stake in Hesai Group in the 4th quarter worth about $177,000. Finally, Squarepoint Ops LLC purchased a new stake in Hesai Group in the 4th quarter worth about $327,000. 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.