Hesai Group Target of Unusually High Options Trading (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) saw unusually large options trading on Tuesday. Stock investors bought 6,551 call options on the company. This represents an increase of approximately 175% compared to the average volume of 2,384 call options.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HSAI. Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. CICC Research began coverage on shares of Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. 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. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $30.80.

Hesai Group Price Performance

Shares of HSAI traded up $0.95 during trading hours on Tuesday, reaching $26.70. The stock had a trading volume of 1,655,867 shares, compared to its average volume of 2,357,686. The stock has a market capitalization of $3.74 billion, a PE ratio of 63.57 and a beta of 1.14. Hesai Group has a 12 month low of $10.41 and a 12 month high of $30.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. The company’s 50-day moving average is $24.64 and its two-hundred day moving average is $24.08.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. bought a new position in shares of Hesai Group during the second quarter valued at $33,000. Legal & General Group Plc acquired a new stake in Hesai Group in the third quarter valued at $71,000. SBI Securities Co. Ltd. raised its position in Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after purchasing an additional 746 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of Hesai Group in the 4th quarter valued at about $88,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Hesai Group in the third quarter valued at about $123,000. 48.53% of the stock is owned by institutional investors.

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.