Hesai Group Target of Unusually High Options Trading (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the target of some unusual options trading activity on Thursday. Stock traders acquired 4,920 call options on the stock. This represents an increase of approximately 82% compared to the average volume of 2,709 call options.

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently made changes to their positions in HSAI. Exchange Traded Concepts LLC grew its position in Hesai Group by 32.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 28,905 shares of the company’s stock valued at $647,000 after buying an additional 7,116 shares during the period. Harbour Capital Advisors LLC grew its position in shares of Hesai Group by 41.6% during the 4th quarter. Harbour Capital Advisors LLC now owns 17,200 shares of the company’s stock valued at $414,000 after acquiring an additional 5,050 shares during the period. AIA Group Ltd purchased a new stake in shares of Hesai Group in the 3rd quarter worth $565,000. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Hesai Group in the 3rd quarter worth $329,000. Finally, XTX Topco Ltd bought a new position in Hesai Group in the 3rd quarter worth $623,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Up 7.7%

Shares of HSAI traded up $2.04 during mid-day trading on Thursday, reaching $28.65. The company had a trading volume of 1,941,079 shares, compared to its average volume of 2,598,430. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 67.97 and a beta of 1.14. The firm has a 50-day moving average price of $21.49 and a 200 day moving average price of $23.33. Hesai Group has a 52 week low of $10.41 and a 52 week high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The company had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $116.11 million. On average, sell-side analysts forecast that Hesai Group will post -0.14 EPS for the current year.

Analyst Ratings Changes

HSAI has been the subject of several research analyst reports. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. CICC Research began coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Finally, The Goldman Sachs Group increased their target price on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $30.80.

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.