Investors Buy Large Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the target of some unusual options trading on Tuesday. Investors bought 6,551 call options on the stock. This represents an increase of 175% compared to the average volume of 2,384 call options.

Hedge Funds Weigh In On Hesai Group

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

Wall Street Analysts Forecast Growth

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

Hesai Group Stock Up 3.7%

Shares of HSAI stock traded up $0.95 on Tuesday, reaching $26.70. 1,655,867 shares of the company were exchanged, compared to its average volume of 2,357,686. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. The company has a 50-day moving average of $24.64 and a 200-day moving average of $24.08. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 63.57 and a beta of 1.14. Hesai Group has a one year low of $10.41 and a one year high of $30.85.

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.