Lightspeed Management Company L.L.C. Makes New Investment in Hesai Group (NASDAQ:HSAI)

Lightspeed Management Company L.L.C. acquired a new position in shares of Hesai Group (NASDAQ:HSAI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,000,000 shares of the company’s stock, valued at approximately $110,560,000. Hesai Group accounts for 30.9% of Lightspeed Management Company L.L.C.’s investment portfolio, making the stock its biggest holding. Lightspeed Management Company L.L.C. owned about 6.30% of Hesai Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Hesai Group during the fourth quarter worth $138,000. Hsbc Holdings PLC bought a new position in Hesai Group during the fourth quarter worth $159,000. Landscape Capital Management L.L.C. bought a new position in Hesai Group during the fourth quarter worth $168,000. Fox Run Management L.L.C. bought a new position in Hesai Group during the fourth quarter worth $177,000. Finally, Jane Street Group LLC boosted its position in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after purchasing an additional 5,186 shares during the period. 48.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Hesai Group Trading Up 2.6%

Shares of Hesai Group stock opened at $16.36 on Monday. The firm has a 50-day moving average of $16.32 and a 200-day moving average of $13.46. The stock has a market cap of $2.15 billion, a PE ratio of -37.18, a PEG ratio of 1.44 and a beta of 1.18. Hesai Group has a 52-week low of $3.52 and a 52-week high of $24.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08.

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.