Hesai Group (NASDAQ:HSAI) Shares Gap Down – What’s Next?

Hesai Group (NASDAQ:HSAI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $19.63, but opened at $18.42. Hesai Group shares last traded at $17.48, with a volume of 2,379,784 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley lowered shares of Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $5.50 to $18.40 in a research report on Tuesday, January 14th.

Hesai Group Stock Performance

The business’s fifty day moving average is $15.37 and its 200-day moving average is $8.85. The company has a quick ratio of 2.65, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.28 billion, a PE ratio of -40.47, a P/E/G ratio of 1.44 and a beta of 1.26.

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

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of Hesai Group by 47.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 29,500 shares of the company’s stock worth $138,000 after acquiring an additional 9,500 shares in the last quarter. Jane Street Group LLC lifted its position in Hesai Group by 11.9% during the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after purchasing an additional 5,186 shares during the last quarter. Main Management ETF Advisors LLC purchased a new position in shares of Hesai Group in the 3rd quarter worth $924,000. Polunin Capital Partners Ltd raised its position in shares of Hesai Group by 17.9% during the 4th quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock valued at $16,733,000 after buying an additional 183,417 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Hesai Group in the 4th quarter valued at about $177,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

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.