Short Interest in Hesai Group Sponsored ADR (NASDAQ:HSAI) Declines By 12.5%

Hesai Group Sponsored ADR (NASDAQ:HSAI) saw a significant decrease in short interest in January. As of January 30th, there was short interest totaling 4,982,667 shares, a decrease of 12.5% from the January 15th total of 5,692,569 shares. Based on an average daily volume of 1,947,546 shares, the short-interest ratio is currently 2.6 days. Approximately 3.6% of the shares of the stock are short sold. Approximately 3.6% of the shares of the stock are short sold. Based on an average daily volume of 1,947,546 shares, the short-interest ratio is currently 2.6 days.

Hesai Group Stock Up 2.6%

Shares of Hesai Group stock opened at $25.75 on Tuesday. The business has a fifty day simple moving average of $24.64 and a 200 day simple moving average of $24.08. The stock has a market cap of $3.61 billion, a PE ratio of 61.31 and a beta of 1.14. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. Hesai Group has a 12 month low of $10.41 and a 12 month high of $30.85.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of recent research reports. Macquarie Capit upgraded Hesai Group to a “strong-buy” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, CICC Research started coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $30.80.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of Hesai Group by 696.6% in the 3rd quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after purchasing an additional 163,310 shares during the period. Allianz Asset Management GmbH lifted its stake in Hesai Group by 29.1% in the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares in the last quarter. Trivest Advisors Ltd bought a new position in Hesai Group in the second quarter valued at approximately $17,769,000. Robeco Schweiz AG boosted its holdings in shares of Hesai Group by 131.8% in the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock valued at $24,756,000 after buying an additional 501,000 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Hesai Group during the second quarter worth $1,500,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.