Hesai Group (NASDAQ:HSAI – Get Free Report) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, MarketBeat Ratings reports. They presently have a $15.00 price target on the stock, up from their prior price target of $5.80.
Hesai Group Trading Up 10.0 %
Shares of HSAI opened at $15.00 on Monday. The stock has a 50 day simple moving average of $9.85 and a 200-day simple moving average of $6.30. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.91 billion, a PE ratio of -34.09 and a beta of 1.24. Hesai Group has a 1 year low of $3.28 and a 1 year high of $16.35.
Institutional Investors Weigh In On Hesai Group
A number of hedge funds and other institutional investors have recently bought and sold shares of HSAI. Renaissance Technologies LLC boosted its stake in Hesai Group by 44.1% in the second quarter. Renaissance Technologies LLC now owns 49,700 shares of the company’s stock worth $208,000 after purchasing an additional 15,200 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Hesai Group by 11.9% in the third quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock valued at $230,000 after buying an additional 5,186 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in 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 buying an additional 9,500 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Hesai Group by 107.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 144,420 shares of the company’s stock worth $605,000 after acquiring an additional 74,888 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in Hesai Group in the 3rd quarter valued at about $924,000. 48.53% of the stock is owned by institutional investors and hedge funds.
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.
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