Hesai Group Sees Unusually Large Options Volume (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) saw unusually large options trading on Tuesday. Traders bought 8,642 call options on the company. This is an increase of approximately 366% compared to the average daily volume of 1,854 call options.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors have recently made changes to their positions in HSAI. Vanguard Group Inc. increased its stake in shares of Hesai Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock valued at $91,984,000 after buying an additional 28,102 shares during the period. Schroder Investment Management Group lifted its stake in shares of Hesai Group by 17,419.6% in the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock worth $46,276,000 after acquiring an additional 2,054,114 shares during the period. Wellington Management Group LLP lifted its stake in shares of Hesai Group by 2.1% in the fourth quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock worth $42,303,000 after acquiring an additional 38,312 shares during the period. Deutsche Bank AG boosted its holdings in Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after acquiring an additional 901,370 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Hesai Group by 108.4% during the 3rd quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock valued at $41,647,000 after purchasing an additional 770,816 shares during the period. Institutional investors own 48.53% of the company’s stock.

Hesai Group Trading Up 16.5%

Shares of Hesai Group stock traded up $2.60 on Tuesday, hitting $18.36. The stock had a trading volume of 5,140,134 shares, compared to its average volume of 2,006,937. The stock has a 50 day moving average of $20.02 and a 200 day moving average of $22.75. The firm has a market capitalization of $2.57 billion, a P/E ratio of 41.74, a PEG ratio of 0.57 and a beta of 1.34. Hesai Group has a twelve month low of $14.40 and a twelve month high of $30.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $98.71 million for the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. Sell-side analysts expect that Hesai Group will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HSAI has been the subject of several research analyst reports. BNP Paribas Exane assumed coverage on Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating for the company. Weiss Ratings lowered shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. Finally, Wall Street Zen cut shares of Hesai Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $30.12.

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.