Hesai Group (NASDAQ:HSAI) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Hesai Group from “strong sell” to “sell,” while Weiss Ratings raised its view from “hold (c-)” to “hold (c).” MarketBeat reports a broader consensus “Buy” rating with an average price target of $23.50.
• Hesai reported quarterly EPS of $0.01, missing the $0.07 analyst consensus, although revenue of $126.7 million slightly exceeded estimates. The stock opened at $15.38, near its 52-week low of $14.29 and below its 50-day and 200-day moving averages.
• Institutional investors own 48.53% of Hesai’s shares, with Norges Bank, Broad Peak Investment Advisers, Sapient Capital and others recently establishing or increasing positions.

Hesai Group (NASDAQ:HSAI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $23.50.

Hesai Group Price Performance

NASDAQ HSAI opened at $15.38 on Friday. The firm has a market cap of $2.15 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 0.70 and a beta of 1.36. The stock's 50-day moving average is $17.37 and its two-hundred day moving average is $18.86. Hesai Group has a fifty-two week low of $14.29 and a fifty-two week high of $29.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The firm had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. On average, analysts anticipate that Hesai Group will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HSAI. Norges Bank bought a new stake in Hesai Group in the 4th quarter valued at $24,260,000. Broad Peak Investment Advisers Pte Ltd bought a new stake in Hesai Group in the first quarter valued at about $16,539,000. Sapient Capital LLC bought a new stake in Hesai Group in the first quarter valued at about $13,574,000. C WorldWide Group Holding A S raised its position in Hesai Group by 1.4% in the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company's stock worth $12,382,000 after purchasing an additional 9,385 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Hesai Group in the first quarter worth about $11,185,000. 48.53% of the stock is owned by institutional investors.

About Hesai Group

Hesai Group is a lidar technology company that develops, manufactures and sells three-dimensional sensing products for automotive and robotic applications. Its lidar systems use laser-based sensing to help vehicles and machines detect and understand their surroundings, supporting functions such as advanced driver-assistance systems, autonomous driving and navigation.

The company's product portfolio includes long-, medium- and short-range lidar sensors, as well as related software and perception solutions.

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