Walleye Capital LLC Invests $1.74 Million in Hesai Group (NASDAQ:HSAI)

Walleye Capital LLC acquired a new stake in Hesai Group (NASDAQ:HSAI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 125,698 shares of the company’s stock, valued at approximately $1,737,000. Walleye Capital LLC owned 0.10% of Hesai Group as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. XTX Topco Ltd bought a new position in Hesai Group during the 4th quarter worth approximately $414,000. Renaissance Technologies LLC acquired a new position in Hesai Group in the fourth quarter valued at $138,000. Landscape Capital Management L.L.C. bought a new stake in Hesai Group during the fourth quarter valued at $168,000. Trexquant Investment LP bought a new position in shares of Hesai Group in the 4th quarter worth about $1,667,000. Finally, Geode Capital Management LLC boosted its position in shares of Hesai Group by 366.0% during the 4th quarter. Geode Capital Management LLC now owns 47,700 shares of the company’s stock valued at $659,000 after purchasing an additional 37,464 shares in the last quarter. 48.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Daiwa Capital Markets started coverage on shares of Hesai Group in a report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price target for the company. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Performance

HSAI opened at $10.95 on Friday. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -24.89, a PEG ratio of 1.44 and a beta of 1.35. The company’s fifty day moving average price is $16.83 and its two-hundred day moving average price is $12.23. Hesai Group has a 1-year low of $3.52 and a 1-year high of $24.18. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

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.