Lightspeed Management Company L.L.C. Purchases New Stake in Hesai Group (NASDAQ:HSAI)

Lightspeed Management Company L.L.C. purchased a new stake in Hesai Group (NASDAQ:HSAI) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,000,000 shares of the company’s stock, valued at approximately $110,560,000. Hesai Group accounts for approximately 30.9% of Lightspeed Management Company L.L.C.’s investment portfolio, making the stock its biggest holding. Lightspeed Management Company L.L.C. owned 0.06% of Hesai Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Hesai Group during the fourth quarter worth about $138,000. Hsbc Holdings PLC acquired a new position in Hesai Group during the fourth quarter worth about $159,000. Landscape Capital Management L.L.C. acquired a new position in Hesai Group during the fourth quarter worth about $168,000. Fox Run Management L.L.C. acquired a new position in Hesai Group during the fourth quarter worth about $177,000. Finally, Oberweis Asset Management Inc. acquired a new position in Hesai Group during the fourth quarter worth about $387,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Daiwa Capital Markets assumed coverage on Hesai Group in a research note on Tuesday, March 11th. They set a “buy” rating and a $35.00 target price for the company. The Goldman Sachs Group raised Hesai Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.50 to $18.40 in a research note on Tuesday, January 14th. Morgan Stanley downgraded Hesai Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $5.80 to $15.00 in a research note on Monday, January 13th. Finally, Daiwa America raised Hesai Group to a “strong-buy” rating in a research note on Tuesday, March 11th.

Hesai Group Stock Performance

Hesai Group stock opened at $16.36 on Monday. The business has a 50 day moving average of $16.32 and a 200-day moving average of $13.46. Hesai Group has a 1 year low of $3.52 and a 1 year high of $24.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The company has a market capitalization of $2.15 billion, a P/E ratio of -37.18, a P/E/G ratio of 1.44 and a beta of 1.18.

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.