Susquehanna Fundamental Investments LLC Acquires New Shares in Hesai Group (NASDAQ:HSAI)

Susquehanna Fundamental Investments LLC bought a new position in shares of Hesai Group (NASDAQ:HSAI) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 47,113 shares of the company’s stock, valued at approximately $651,000.

A number of other institutional investors have also added to or reduced their stakes in HSAI. Oberweis Asset Management Inc. bought a new position in shares of Hesai Group during the fourth quarter valued at approximately $387,000. Robert Bosch GmbH purchased a new position in shares of Hesai Group in the 4th quarter valued at $105,768,000. Hsbc Holdings PLC bought a new position in shares of Hesai Group in the 4th quarter worth $159,000. Marshall Wace LLP purchased a new stake in shares of Hesai Group during the 4th quarter worth $3,697,000. Finally, Jump Financial LLC boosted its position in Hesai Group by 2,704.5% during the fourth quarter. Jump Financial LLC now owns 504,802 shares of the company’s stock valued at $6,976,000 after purchasing an additional 486,802 shares in the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Trading Up 5.4 %

Shares of Hesai Group stock opened at $18.29 on Friday. The firm’s 50 day simple moving average is $16.38 and its two-hundred day simple moving average is $12.92. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -41.57, a PEG ratio of 1.44 and a beta of 1.35. Hesai Group has a 12-month low of $3.52 and a 12-month 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.

Analyst Ratings Changes

A number of brokerages have commented on HSAI. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.50 to $18.40 in a report on Tuesday, January 14th. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th. Daiwa Capital Markets initiated coverage on Hesai Group in a research report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $5.80 to $15.00 in a research report on Monday, January 13th.

Hesai Group 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.