Hesai Group Sponsored ADR (NASDAQ:HSAI) Short Interest Update

Hesai Group Sponsored ADR (NASDAQ:HSAI) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 6,379,375 shares, an increase of 19.8% from the December 15th total of 5,322,857 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily volume of 1,612,925 shares, the days-to-cover ratio is currently 4.0 days. Based on an average daily volume of 1,612,925 shares, the days-to-cover ratio is currently 4.0 days. Approximately 4.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HSAI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, CICC Research started coverage on Hesai Group in a research note on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.80.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently added to or reduced their stakes in HSAI. Goldman Sachs Group Inc. increased its position in shares of Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after acquiring an additional 961,493 shares during the period. WT Asset Management Ltd purchased a new stake in shares of Hesai Group in the second quarter valued at approximately $7,603,000. Vontobel Holding Ltd. bought a new position in Hesai Group in the second quarter worth approximately $699,000. Sovereign Financial Group Inc. increased its holdings in Hesai Group by 94.2% during the 2nd quarter. Sovereign Financial Group Inc. now owns 19,425 shares of the company’s stock worth $426,000 after purchasing an additional 9,424 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Hesai Group by 78.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock valued at $44,126,000 after purchasing an additional 882,180 shares in the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Price Performance

HSAI opened at $28.18 on Wednesday. The business has a fifty day moving average of $22.03 and a 200 day moving average of $23.55. Hesai Group has a 52-week low of $10.41 and a 52-week high of $30.85. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.70 billion, a P/E ratio of 67.10 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The business had revenue of $111.72 million for the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. As a group, sell-side analysts anticipate that Hesai Group will post -0.14 EPS for the current year.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.