Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts give Hesai Group an average “Buy” rating: Three analysts rate the stock a buy, one says hold, and one says strong buy. The average 12-month price target is $29.75 versus a recent price of $17.42.
• Hesai’s latest quarterly results were mixed: revenue of $126.7 million slightly exceeded estimates, but adjusted EPS of $0.01 missed the $0.07 consensus forecast.
• Institutional investors own 48.53% of the company, with Goldman Sachs increasing its position by 345.7% during the first quarter and other funds adding new or larger stakes.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) has earned an average rating of "Buy" from the five research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.75.

A number of research firms have issued reports on HSAI. 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 cut shares of Hesai Group from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd.

Hesai Group Stock Down 0.4%

HSAI opened at $17.42 on Friday. The stock has a fifty day moving average of $16.89 and a 200-day moving average of $20.46. The company has a market capitalization of $2.44 billion, a P/E ratio of 42.49, a P/E/G ratio of 0.77 and a beta of 1.37. Hesai Group has a fifty-two week low of $14.29 and a fifty-two week high of $30.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The business had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. On average, equities analysts expect that Hesai Group will post 0.61 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

A number of hedge funds have recently added to or reduced their stakes in HSAI. Goldman Sachs Group Inc. lifted its position in shares of Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock valued at $18,346,000 after acquiring an additional 961,493 shares during the period. Federated Hermes Inc. bought a new position in shares of Hesai Group in the second quarter worth $156,000. Daiwa Securities Group Inc. bought a new position in shares of Hesai Group in the second quarter worth $108,000. Qube Research & Technologies Ltd acquired a new position in Hesai Group in the second quarter valued at about $368,000. Finally, The Manufacturers Life Insurance Company raised its stake in Hesai Group by 24.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company's stock valued at $25,277,000 after purchasing an additional 224,381 shares in the last quarter. Institutional investors own 48.53% of the company's stock.

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.

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