Point72 Asset Management L.P. Purchases Shares of 213,523 Hesai Group (NASDAQ:HSAI)

Point72 Asset Management L.P. 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 213,523 shares of the company’s stock, valued at approximately $2,951,000. Point72 Asset Management L.P. owned 0.17% of Hesai Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of Hesai Group during the 4th quarter worth about $138,000. Hsbc Holdings PLC acquired a new stake in Hesai Group during the fourth quarter worth approximately $159,000. Landscape Capital Management L.L.C. acquired a new stake in Hesai Group during the fourth quarter worth approximately $168,000. Fox Run Management L.L.C. bought a new stake in shares of Hesai Group during the fourth quarter worth approximately $177,000. Finally, Oberweis Asset Management Inc. acquired a new position in shares of Hesai Group in the fourth quarter valued at approximately $387,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Daiwa America raised Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. Daiwa Capital Markets initiated coverage on Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 target price for the company.

Hesai Group Price Performance

Shares of NASDAQ HSAI opened at $19.57 on Wednesday. The business has a fifty day moving average price of $16.19 and a two-hundred day moving average price of $14.06. The stock has a market capitalization of $2.57 billion, a PE ratio of -44.48, a P/E/G ratio of 1.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $24.18.

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.