Traders Purchase Large Volume of Hesai Group Call Options (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 9,871 call options on the company. This represents an increase of approximately 176% compared to the average volume of 3,580 call options.

Hesai Group Stock Up 17.8 %

HSAI opened at $17.43 on Wednesday. The company has a fifty day moving average of $17.55 and a two-hundred day moving average of $11.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $24.18. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -39.61, a PEG ratio of 1.44 and a beta of 1.07.

Hedge Funds Weigh In On Hesai Group

Several institutional investors and hedge funds have recently modified their holdings of HSAI. Polunin Capital Partners Ltd grew its holdings in Hesai Group by 17.9% in the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after purchasing an additional 183,417 shares during the period. Jane Street Group LLC lifted its position in shares of 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 in the last quarter. Fox Run Management L.L.C. acquired a new stake in Hesai Group in the 4th quarter valued at $177,000. China Universal Asset Management Co. Ltd. increased its holdings in Hesai Group by 49.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after acquiring an additional 14,500 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in Hesai Group during the third quarter worth $924,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HSAI. Daiwa America raised shares of Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley cut Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $5.80 to $15.00 in a research report on Monday, January 13th. Finally, Daiwa Capital Markets initiated coverage on Hesai Group in a report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price target for the company.

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.