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

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) gapped up prior to trading on Tuesday . The stock had previously closed at $25.75, but opened at $27.00. Hesai Group shares last traded at $26.64, with a volume of 1,088,676 shares changing hands.

Analyst Ratings Changes

HSAI has been the topic of several analyst reports. CICC Research began coverage on Hesai Group in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Finally, Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $30.80.

Hesai Group Stock Up 4.9%

The firm has a market capitalization of $3.78 billion, a PE ratio of 64.30 and a beta of 1.14. The firm’s 50-day moving average is $24.64 and its 200 day moving average is $24.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75.

Institutional Trading of Hesai Group

Several hedge funds and other institutional investors have recently bought and sold shares of HSAI. Vanguard Group Inc. lifted its stake in shares of Hesai Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after purchasing an additional 28,102 shares during the period. Allianz Asset Management GmbH grew its holdings in Hesai Group by 29.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares during the period. Schroder Investment Management Group increased its stake in shares of Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after acquiring an additional 2,054,114 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Hesai Group by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock worth $51,992,000 after acquiring an additional 98,884 shares during the period. Finally, Deutsche Bank AG grew its holdings in Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after purchasing an additional 901,370 shares during the period. 48.53% of the stock is owned by hedge funds and other institutional investors.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.