Hesai Group (NASDAQ:HSAI) Hits New 12-Month High – Time to Buy?

Shares of Hesai Group (NASDAQ:HSAI) hit 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. The stock had previously closed at $18.51.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HSAI. Morgan Stanley cut shares of 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 report on Monday, January 13th. 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.

Hesai Group Price Performance

The stock has a market cap of $2.49 billion, a PE ratio of -44.61, a P/E/G ratio of 1.44 and a beta of 1.26. The business has a fifty day simple moving average of $15.15 and a two-hundred day simple moving average of $8.58. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On Hesai Group

A number of institutional investors have recently bought and sold shares of HSAI. Renaissance Technologies LLC bought a new position in shares of Hesai Group during the 4th quarter valued at about $138,000. Hsbc Holdings PLC acquired a new stake in Hesai Group in the 4th quarter worth approximately $159,000. Landscape Capital Management L.L.C. acquired a new position in shares of Hesai Group in the 4th quarter valued at about $168,000. Fox Run Management L.L.C. acquired a new stake in Hesai Group in the fourth quarter valued at approximately $177,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Hesai Group during the fourth quarter valued at approximately $327,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.