Investors Buy High Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group (NASDAQ:HSAI) was the target of some unusual options trading activity on Tuesday. Stock investors bought 9,871 call options on the company. This represents an increase of 176% compared to the average volume of 3,580 call options.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in Hesai Group during the fourth quarter worth approximately $138,000. Hsbc Holdings PLC acquired a new stake in Hesai Group during the 4th quarter worth approximately $159,000. Landscape Capital Management L.L.C. acquired a new stake in Hesai Group in the 4th quarter valued at about $168,000. Fox Run Management L.L.C. purchased a new stake in shares of Hesai Group during the fourth quarter worth approximately $177,000. Finally, Jane Street Group LLC grew its holdings in Hesai Group by 11.9% during the 3rd quarter. Jane Street Group LLC now owns 48,943 shares of the company’s stock worth $230,000 after acquiring an additional 5,186 shares in the last quarter. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HSAI. Daiwa America upgraded shares of Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. Daiwa Capital Markets started coverage on Hesai Group in a research report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.50 to $18.40 in a research note on Tuesday, January 14th. Finally, Morgan Stanley cut shares of Hesai Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $5.80 to $15.00 in a research note on Monday, January 13th.

Hesai Group Stock Performance

Shares of NASDAQ HSAI opened at $17.23 on Thursday. Hesai Group has a 12 month low of $3.52 and a 12 month high of $24.18. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -39.16, a PEG ratio of 1.44 and a beta of 1.35. The company has a 50 day simple moving average of $17.58 and a two-hundred day simple moving average of $11.44.

Hesai Group Company Profile

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.