Short Interest in Hesai Group Sponsored ADR (NASDAQ:HSAI) Rises By 19.8%

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 6,379,375 shares, a growth of 19.8% from the December 15th total of 5,322,857 shares. Based on an average daily trading volume, of 1,612,925 shares, the short-interest ratio is presently 4.0 days. Approximately 4.9% of the shares of the company are short sold. Approximately 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,612,925 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HSAI shares. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. The Goldman Sachs Group boosted their price target on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. CICC Research initiated coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $30.80.

Hedge Funds Weigh In On Hesai Group

Large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new stake in Hesai Group during the second quarter valued at about $33,000. Legal & General Group Plc bought a new stake in shares of Hesai Group in the 3rd quarter valued at about $71,000. Daiwa Securities Group Inc. purchased a new position in shares of Hesai Group in the second quarter worth $108,000. Quantbot Technologies LP purchased a new stake in Hesai Group during the 3rd quarter valued at $123,000. Finally, JTC Employer Solutions Trustee Ltd grew its holdings in Hesai Group by 117.6% in the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after acquiring an additional 3,368 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

Shares of Hesai Group stock traded down $0.06 on Monday, reaching $28.55. The stock had a trading volume of 1,559,454 shares, compared to its average volume of 2,028,539. The business’s 50 day moving average is $21.77 and its two-hundred day moving average is $23.46. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. Hesai Group has a 1 year low of $10.41 and a 1 year high of $30.85. The company has a market cap of $3.74 billion, a P/E ratio of 67.98 and a beta of 1.14.

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

About Hesai Group

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.