Hesai Group Target of Unusually High Options Trading (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 8,642 call options on the company. This represents an increase of approximately 366% compared to the typical daily volume of 1,854 call options.

Hesai Group Stock Up 16.5%

Shares of HSAI traded up $2.60 during trading hours on Tuesday, hitting $18.36. The stock had a trading volume of 5,140,134 shares, compared to its average volume of 2,006,937. Hesai Group has a 1-year low of $14.40 and a 1-year high of $30.85. The firm has a market capitalization of $2.57 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. The firm has a 50 day simple moving average of $20.02 and a 200-day simple moving average of $22.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $98.71 million for the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%. Sell-side analysts predict that Hesai Group will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

A number of large investors have recently modified their holdings of HSAI. Advisors Asset Management Inc. raised its position in Hesai Group by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after buying an additional 430 shares during the last quarter. Main Management ETF Advisors LLC boosted its holdings in Hesai Group by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after purchasing an additional 512 shares during the last quarter. Bessemer Group Inc. grew its position in Hesai Group by 45.3% in the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after purchasing an additional 725 shares in the last quarter. Royal Bank of Canada grew its position in Hesai Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock worth $119,000 after purchasing an additional 726 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after buying an additional 746 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HSAI. Wall Street Zen downgraded shares of Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Finally, BNP Paribas Exane began coverage on Hesai Group in a research note on Thursday, March 26th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $30.12.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.