Hesai Group Sponsored ADR (NASDAQ:HSAI) Short Interest Down 12.5% in January

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

Hesai Group Price Performance

NASDAQ:HSAI opened at $25.75 on Tuesday. Hesai Group has a 52-week low of $10.41 and a 52-week high of $30.85. The company has a market cap of $3.61 billion, a P/E ratio of 61.31 and a beta of 1.14. 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 stock’s 50-day simple moving average is $24.64 and its 200 day simple moving average is $24.08.

Institutional Investors Weigh In On Hesai Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. grew its stake in shares of Hesai Group by 2.8% in the fourth quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock valued at $357,000 after buying an additional 430 shares in the last quarter. Main Management ETF Advisors LLC lifted its stake in Hesai Group by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock valued at $1,123,000 after acquiring an additional 512 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Hesai Group by 2.8% in the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after acquiring an additional 631 shares during the period. SBI Securities Co. Ltd. grew its position 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 during the period. Finally, Franklin Resources Inc. increased its stake in shares of Hesai Group by 4.2% during the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after purchasing an additional 782 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on HSAI shares. Macquarie Capit raised Hesai Group to a “strong-buy” rating in a research note on Tuesday, February 10th. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Finally, CICC Research initiated coverage on shares of Hesai Group in a research note on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $30.80.

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.