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

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HSAI shares. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. CICC Research began coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target for the company. Finally, Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Two 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 company. Based on data from MarketBeat.com, Hesai Group has a consensus rating of “Buy” and an average price target of $30.80.

Hesai Group Stock Up 2.8%

HSAI opened at $27.52 on Thursday. The company has a market capitalization of $3.85 billion, a PE ratio of 65.53 and a beta of 1.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. Hesai Group has a fifty-two week low of $10.41 and a fifty-two week high of $30.85. The business has a 50-day moving average of $24.92 and a 200-day moving average of $24.16.

Institutional Trading of Hesai Group

Several large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in shares of Hesai Group by 2.8% in the 4th quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after purchasing an additional 430 shares during the last quarter. Main Management ETF Advisors LLC lifted its position in shares of Hesai Group by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after buying an additional 512 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock worth $515,000 after acquiring an additional 631 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Hesai Group by 15.8% during the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company’s stock valued at $119,000 after acquiring an additional 726 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after acquiring an additional 746 shares in the last quarter. 48.53% of the stock is owned by institutional investors.

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.