Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,550,000 shares, a growth of 131.8% from the February 13th total of 1,100,000 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 3,810,000 shares, the short-interest ratio is presently 0.7 days.

Hesai Group Trading Down 8.8 %

NASDAQ:HSAI opened at $20.56 on Friday. Hesai Group has a one year low of $3.52 and a one year high of $24.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The company’s 50-day simple moving average is $16.59 and its 200 day simple moving average is $9.97. The firm has a market capitalization of $2.61 billion, a P/E ratio of -46.73, a PEG ratio of 1.44 and a beta of 1.07.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently bought and sold shares of the business. Lightspeed Management Company L.L.C. bought a new stake in Hesai Group during the fourth quarter worth about $110,560,000. Robert Bosch GmbH bought a new stake in Hesai Group during the fourth quarter worth about $105,768,000. Polunin Capital Partners Ltd boosted its stake in Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after acquiring an additional 183,417 shares in the last quarter. Millennium Management LLC bought a new stake in Hesai Group during the fourth quarter worth about $14,736,000. Finally, Voloridge Investment Management LLC purchased a new position in Hesai Group in the fourth quarter worth about $9,496,000. Institutional investors own 48.53% of the company’s stock.

Analysts Set New Price Targets

HSAI has been the topic of a number of research reports. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $5.80 to $15.00 in a research note on Monday, January 13th. Daiwa Capital Markets initiated coverage on shares of Hesai Group in a research note on Tuesday. They set a “buy” rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group raised shares of Hesai Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th.

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.