Hesai Group (NASDAQ:HSAI) Shares Gap Up – Should You Buy?

Hesai Group (NASDAQ:HSAI) gapped up before the market opened on Friday . The stock had previously closed at $14.90, but opened at $15.74. Hesai Group shares last traded at $15.66, with a volume of 1,243,553 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $5.80 to $15.00 in a research report on Monday, January 13th. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Trading Up 4.0 %

The stock has a market cap of $1.97 billion, a P/E ratio of -35.23, a P/E/G ratio of 1.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The stock has a 50-day moving average price of $11.62 and a 200-day moving average price of $6.88.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Monday, November 25th. The company reported ($0.05) earnings per share (EPS) for the quarter. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. On average, equities research analysts expect that Hesai Group will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of Hesai Group by 47.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock valued at $138,000 after buying an additional 9,500 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after acquiring an additional 15,200 shares during the period. Jane Street Group LLC raised its stake in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after buying an additional 5,186 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Hesai Group by 107.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after acquiring an additional 74,888 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new stake in Hesai Group during the third quarter valued at $924,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Company 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.