Hesai Group (NASDAQ:HSAI) Short Interest Update

Hesai Group (NASDAQ:HSAI) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 4,710,000 shares, a growth of 84.7% from the February 28th total of 2,550,000 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average daily trading volume, of 4,210,000 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

HSAI has been the topic of a number of analyst reports. Daiwa Capital Markets assumed coverage on shares of Hesai Group in a report on Tuesday, March 11th. They set a “buy” rating and a $35.00 target price on the stock. The Goldman Sachs Group upgraded Hesai Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley lowered Hesai Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $5.80 to $15.00 in a report on Monday, January 13th. Finally, Daiwa America raised shares of Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th.

Hesai Group Price Performance

Shares of NASDAQ:HSAI traded down $2.06 on Friday, hitting $15.20. The company’s stock had a trading volume of 6,367,383 shares, compared to its average volume of 1,880,637. The company has a market capitalization of $1.93 billion, a PE ratio of -34.55, a PEG ratio of 1.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The company has a 50-day simple moving average of $17.54 and a 200 day simple moving average of $11.17. Hesai Group has a 1 year low of $3.52 and a 1 year high of $24.18.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in shares of Hesai Group in the 4th quarter worth $138,000. Hsbc Holdings PLC bought a new position in Hesai Group in the fourth quarter valued at $159,000. Landscape Capital Management L.L.C. purchased a new stake in Hesai Group during the fourth quarter valued at about $168,000. Fox Run Management L.L.C. purchased a new stake in Hesai Group during the fourth quarter valued at about $177,000. Finally, Squarepoint Ops LLC bought a new stake in Hesai Group during the fourth quarter worth about $327,000. 48.53% of the stock is currently owned by institutional investors.

Hesai Group Company Profile

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.