Traders Purchase High Volume of Call Options on Hesai Group (NASDAQ:HSAI)

Hesai Group Sponsored ADR (NASDAQ:HSAI) was the target of unusually large options trading activity on Thursday. Stock traders acquired 4,920 call options on the stock. This represents an increase of 82% compared to the typical daily volume of 2,709 call options.

Hesai Group Price Performance

Shares of HSAI traded down $0.06 during trading hours on Friday, reaching $28.55. 1,559,454 shares of the company’s stock traded hands, compared to its average volume of 2,028,539. Hesai Group has a 12 month low of $10.41 and a 12 month high of $30.85. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.74 billion, a PE ratio of 67.98 and a beta of 1.14. The firm’s 50 day simple moving average is $21.77 and its 200-day simple moving average is $23.42.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. Equities analysts expect that Hesai Group will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Hesai Group by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after acquiring an additional 629,680 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Hesai Group by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock valued at $51,992,000 after buying an additional 98,884 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of 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 buying an additional 770,816 shares in the last quarter. Finally, Aberdeen Group plc purchased a new stake in shares of Hesai Group in the 3rd quarter worth about $38,241,000. Institutional investors own 48.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. CICC Research began coverage on Hesai Group in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $30.80.

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.