Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Hesai Group has a consensus “Buy” rating from four analysts, with two buys, one strong buy and one hold. The average 12-month price target is $23.50, above the reported share price of $17.10.
• Hesai reported quarterly EPS of $0.01, missing the $0.07 consensus estimate, while revenue of $126.7 million slightly exceeded expectations. Analysts project full-year EPS of $0.61.
• Institutional investors and hedge funds own 48.53% of the company, with several firms increasing their positions during the second quarter. Hesai shares have traded between $14.29 and $30.68 over the past year.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) has been assigned a consensus recommendation of "Buy" from the four ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $23.50.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. Wall Street Zen downgraded shares of Hesai Group from a "sell" rating to a "strong sell" rating in a research note on Sunday, August 30th.

Hesai Group Stock Performance

NASDAQ HSAI opened at $17.10 on Wednesday. The company has a market cap of $2.39 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.76 and a beta of 1.36. The stock's 50 day simple moving average is $17.25 and its 200-day simple moving average is $19.31. Hesai Group has a 1-year low of $14.29 and a 1-year high of $30.68. 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 issued its quarterly earnings results on Saturday, August 15th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million for the quarter, compared to analysts' expectations of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. As a group, equities research analysts anticipate that Hesai Group will post 0.61 EPS for the current fiscal year.

Institutional Trading of Hesai Group

Hedge funds have recently bought and sold shares of the business. C WorldWide Group Holding A S grew its position in shares of 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 valued at $12,382,000 after purchasing an additional 9,385 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Hesai Group by 13.7% in the second quarter. Squarepoint Ops LLC now owns 31,793 shares of the company's stock valued at $579,000 after purchasing an additional 3,822 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in Hesai Group by 15.7% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company's stock worth $1,565,000 after buying an additional 11,679 shares in the last quarter. Headlands Technologies LLC purchased a new position in Hesai Group during the second quarter worth approximately $234,000. Finally, First Trust Bank Ltd. acquired a new position in Hesai Group during the second quarter worth $1,650,641. Institutional investors and hedge funds own 48.53% of the company's stock.

About Hesai Group

Hesai Group is a lidar technology company that develops three-dimensional sensing solutions for automotive and non-automotive applications. Its products use laser-based detection to measure the surrounding environment, helping vehicles and machines identify objects, assess distances and support navigation, perception and safety functions.

The company offers lidar sensors for autonomous driving and advanced driver-assistance systems, including solutions designed for passenger vehicles, robotaxis, delivery vehicles and other commercial applications.

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