Hesai Group (NASDAQ:HSAI) Hits New 12-Month High - Time to Buy?

Key Points

• Hesai Group's stock reached a new 52-week high of $27.77, closing at $27.02 with significant trading volume of over 4.5 million shares.
• Equities analysts have a positive outlook on the stock, with Morgan Stanley upgrading it to "overweight" and a consensus average price target of $27.18.
• Hesai Group reported quarterly earnings of $0.04 per share and revenue of $98.61 million, with 48.53% ownership by institutional investors indicating strong market interest.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $27.77 and last traded at $27.02, with a volume of 4550778 shares changing hands. The stock had previously closed at $23.32.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley upgraded Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $23.00 to $26.00 in a report on Monday, July 28th. Jefferies Financial Group assumed coverage on Hesai Group in a report on Monday, June 9th. They set a "buy" rating and a $29.30 price target on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $27.18.

Hesai Group Trading Up 6.8%

The firm has a 50 day simple moving average of $21.04 and a 200 day simple moving average of $18.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The firm has a market cap of $3.27 billion, a P/E ratio of -829.87 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter. The company had revenue of $98.61 million for the quarter. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. On average, equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently added to or reduced their stakes in the stock. Lightspeed Management Company L.L.C. bought a new position in shares of Hesai Group during the fourth quarter valued at $110,560,000. Robert Bosch GmbH bought a new position in shares of Hesai Group during the fourth quarter valued at $105,768,000. Citigroup Inc. lifted its holdings in shares of Hesai Group by 1,258.8% during the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock valued at $41,063,000 after purchasing an additional 2,570,347 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Hesai Group during the first quarter valued at $25,997,000. Finally, Allianz Asset Management GmbH bought a new position in shares of Hesai Group during the first quarter valued at $16,696,000. 48.53% of the stock is owned by institutional investors.

About Hesai Group

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.

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