Hesai Group Sponsored ADR (NASDAQ:HSAI) Stock Has Average Target Price of $23.50 According to Analysts

Key Points

• Analysts maintain a bullish view: Four analysts give Hesai Group an average “Buy” rating, with an average 12-month price target of $23.50 versus the stock’s $12.42 opening price.
• Shares have declined significantly: HSAI is down 7.0% and is trading near its 52-week low of $12.36, well below its 52-week high of $29.35 and key moving averages.
• Quarterly results were mixed: Hesai reported $0.01 in adjusted EPS, missing the $0.07 consensus estimate, while revenue of $126.7 million slightly exceeded expectations; institutional investors own 48.53% of the stock.

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) have been assigned an average rating of "Buy" from the four analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.50.

Several research firms recently issued reports on HSAI. Weiss Ratings cut shares of Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Hesai Group from a "strong sell" rating to a "sell" rating in a report on Saturday, October 3rd.

Hesai Group Stock Down 7.0%

Shares of HSAI opened at $12.42 on Friday. Hesai Group has a 52-week low of $12.36 and a 52-week high of $29.35. The company has a market capitalization of $1.74 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36. The stock has a fifty day simple moving average of $16.91 and a two-hundred day simple moving average of $18.35. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted 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). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. The company had revenue of $126.70 million for the quarter, compared to analysts' expectations of $126.00 million. As a group, equities analysts forecast that Hesai Group will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company's stock worth $44,000 after acquiring an additional 725 shares during the last quarter. Blue Trust Inc. purchased a new stake in Hesai Group in the first quarter valued at $51,000. Summit Securities Group LLC purchased a new stake in Hesai Group in the first quarter valued at $56,000. Leonteq Securities AG lifted its stake in shares of Hesai Group by 107.9% in the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company's stock valued at $188,000 after purchasing an additional 5,104 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Hesai Group in the 2nd quarter valued at $234,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Company Profile

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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