Hesai Group (NASDAQ:HSAI – Get Free Report)’s stock price traded down 7.6% on Thursday . The stock traded as low as $10.11 and last traded at $10.16. 191,791 shares changed hands during trading, a decline of 36% from the average session volume of 300,751 shares. The stock had previously closed at $11.00.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Bank of America assumed coverage on Hesai Group in a report on Friday, September 22nd. They set a “buy” rating on the stock. Citigroup assumed coverage on Hesai Group in a report on Tuesday, September 26th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group lowered Hesai Group from a “buy” rating to a “neutral” rating in a report on Friday, August 18th.
Hesai Group Price Performance
Hedge Funds Weigh In On Hesai Group
Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in Hesai Group in the 1st quarter valued at $68,000. UBS Group AG bought a new position in Hesai Group in the 1st quarter valued at $78,000. Barclays PLC bought a new position in Hesai Group in the 1st quarter valued at $110,000. Nomura Asset Management Co. Ltd. bought a new position in Hesai Group in the 1st quarter valued at $157,000. Finally, Nomura Holdings Inc. bought a new position in Hesai Group in the 1st quarter valued at $173,000. Institutional investors own 15.02% of the company’s stock.
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.
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