Hesai Group (NASDAQ:HSAI) Sees Unusually-High Trading Volume – Here’s Why

Hesai Group (NASDAQ:HSAI) saw an uptick in trading volume on Friday . 1,208,848 shares changed hands during trading, a decline of 20% from the previous session’s volume of 1,516,610 shares.The stock last traded at $16.87 and had previously closed at $16.40.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on HSAI shares. Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $5.80 to $15.00 in a research 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 research report on Tuesday, January 14th.

Hesai Group Trading Up 3.9 %

The stock’s 50 day moving average is $16.02 and its 200-day moving average is $9.42. 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 company has a market cap of $2.16 billion, a P/E ratio of -38.43, a PEG ratio of 1.44 and a beta of 1.26.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HSAI. GF Fund Management CO. LTD. purchased a new position in shares of Hesai Group during the 4th quarter valued at about $2,418,000. Voloridge Investment Management LLC acquired a new position in Hesai Group during the fourth quarter worth $9,496,000. Squarepoint Ops LLC acquired a new stake in shares of Hesai Group in the fourth quarter valued at about $327,000. Two Sigma Advisers LP purchased a new stake in shares of Hesai Group during the fourth quarter worth about $1,703,000. Finally, Two Sigma Investments LP acquired a new position in shares of Hesai Group during the 4th quarter worth about $7,084,000. 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.