Hesai Group (NASDAQ:HSAI) Sets New 12-Month High – Here’s Why

Hesai Group (NASDAQ:HSAI) shares reached a new 52-week high during trading on Friday . The company traded as high as $20.18 and last traded at $19.65, with a volume of 2516604 shares trading hands. The stock had previously closed at $18.51.

Analysts Set New Price Targets

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

Hesai Group Price Performance

The company’s 50 day moving average price is $15.15 and its 200-day moving average price is $8.58. The stock has a market cap of $2.49 billion, a P/E ratio of -44.61, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Monday, November 25th. The company reported ($0.05) earnings per share for the quarter. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. As a group, sell-side analysts expect that Hesai Group will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Lightspeed Management Company L.L.C. purchased a new stake in shares of Hesai Group during the 4th quarter valued at approximately $110,560,000. Robert Bosch GmbH purchased a new stake in Hesai Group during the 4th quarter valued at about $105,768,000. Polunin Capital Partners Ltd raised its stake in shares of Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after acquiring an additional 183,417 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Hesai Group in the fourth quarter worth about $14,736,000. Finally, Voloridge Investment Management LLC purchased a new position in Hesai Group during the 4th quarter valued at about $9,496,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.