Investors Purchase Large Volume of Hesai Group Call Options (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the recipient of some unusual options trading activity on Monday. Traders acquired 4,332 call options on the stock. Thisrepresentsanincreaseofapproximately62% compared to the average daily volume of 2,674 call options.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HSAI. Jefferies Financial Group began coverage on shares of Hesai Group in a research report on Monday, June 9th. They issued a “buy” rating and a $29.30 price objective for the company. Morgan Stanley upgraded shares of Hesai Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $26.00 in a research report on Monday, July 28th. Finally, UBS Group began coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, Hesai Group has a consensus rating of “Buy” and an average target price of $28.74.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HSAI. Lightspeed Management Company L.L.C. bought a new position in shares of Hesai Group in the 4th quarter valued at about $110,560,000. Citigroup Inc. boosted its stake in shares of Hesai Group by 1,258.8% in the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company’s stock valued at $41,063,000 after purchasing an additional 2,570,347 shares during the last quarter. Vanguard Group Inc. bought a new position in Hesai Group during the 1st quarter worth approximately $25,997,000. Allianz Asset Management GmbH bought a new position in Hesai Group during the 1st quarter worth approximately $16,696,000. Finally, Millennium Management LLC bought a new position in Hesai Group during the 4th quarter worth approximately $14,736,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Up 7.6%

Shares of NASDAQ HSAI opened at $28.51 on Tuesday. The firm has a market capitalization of $3.74 billion, a PE ratio of 316.78 and a beta of 1.13. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. Hesai Group has a 1 year low of $3.56 and a 1 year high of $30.44. The firm’s 50-day moving average is $23.01 and its 200-day moving average is $19.57.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.72). The business had revenue of $98.61 million during the quarter, compared to the consensus estimate of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. Equities analysts expect that Hesai Group will post -0.14 EPS for the current year.

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.