Hesai Group (NASDAQ:HSAI) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Hesai Group (NASDAQ:HSAI) by 366.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,700 shares of the company’s stock after buying an additional 37,464 shares during the quarter. Geode Capital Management LLC’s holdings in Hesai Group were worth $659,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HSAI. Fox Run Management L.L.C. acquired a new position in Hesai Group during the fourth quarter worth $177,000. China Universal Asset Management Co. Ltd. lifted its stake in Hesai Group by 49.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 44,000 shares of the company’s stock worth $608,000 after acquiring an additional 14,500 shares during the last quarter. Jane Street Group LLC raised its stake in 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 in the last quarter. JPMorgan Chase & Co. purchased a new position in Hesai Group in the fourth quarter valued at approximately $1,494,000. Finally, Polunin Capital Partners Ltd grew its holdings in shares of Hesai Group by 17.9% during the fourth quarter. Polunin Capital Partners Ltd now owns 1,210,817 shares of the company’s stock worth $16,733,000 after purchasing an additional 183,417 shares during the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Wall Street Analyst Weigh In

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

Hesai Group Stock Down 7.8 %

NASDAQ:HSAI opened at $17.35 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -39.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.35. Hesai Group has a one year low of $3.52 and a one year high of $24.18. The stock has a 50-day simple moving average of $16.36 and a 200 day simple moving average of $12.82.

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.