Hesai Group Sees Unusually High Options Volume (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the recipient of some unusual options trading on Tuesday. Stock investors bought 7,215 call options on the stock. This represents an increase of approximately 256% compared to the average daily volume of 2,027 call options.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its holdings in Hesai Group by 11.9% in the 3rd 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. Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the 4th quarter valued at $138,000. Hsbc Holdings PLC acquired a new stake in shares of Hesai Group in the fourth quarter worth $159,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Hesai Group in the fourth quarter worth $168,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Hesai Group during the fourth quarter worth $177,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on HSAI shares. Daiwa Capital Markets began coverage on Hesai Group in a research report on Tuesday. They set a “buy” rating and a $35.00 target price on the stock. Morgan Stanley downgraded shares of Hesai Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $5.80 to $15.00 in a report on Monday, January 13th. Finally, The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th.

Hesai Group Stock Performance

HSAI stock traded up $5.51 during midday trading on Tuesday, reaching $21.52. The stock had a trading volume of 13,103,115 shares, compared to its average volume of 1,585,565. The firm has a fifty day simple moving average of $16.13 and a two-hundred day simple moving average of $9.67. Hesai Group has a 52-week low of $3.52 and a 52-week high of $22.83. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The stock has a market cap of $2.73 billion, a PE ratio of -50.14, a P/E/G ratio of 1.44 and a beta of 1.07.

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.