Hesai Group (NASDAQ:HSAI) Downgraded by Morgan Stanley to “Equal Weight”

Hesai Group (NASDAQ:HSAIGet 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

(Get Free Report)

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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