Hesai Group (NASDAQ:HSAI) Coverage Initiated by Analysts at UBS Group

Key Points

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UBS Group started coverage on shares of Hesai Group (NASDAQ:HSAI - Free Report) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $35.00 target price on the stock.

Several other equities analysts have also commented on the stock. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $23.00 to $26.00 in a report on Monday, July 28th. Jefferies Financial Group initiated coverage on shares of Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $28.74.

Hesai Group Price Performance

HSAI stock traded up $0.20 during mid-day trading on Tuesday, hitting $23.26. The stock had a trading volume of 4,369,090 shares, compared to its average volume of 3,232,076. The company has a current ratio of 3.18, a quick ratio of 3.62 and a debt-to-equity ratio of 0.06. Hesai Group has a 52 week low of $3.56 and a 52 week high of $27.94. The firm has a market capitalization of $3.05 billion, a P/E ratio of 258.44 and a beta of 1.12. The firm has a fifty day simple moving average of $21.62 and a 200 day simple moving average of $18.93.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The firm had revenue of $98.61 million during the quarter, compared to the consensus estimate of $846.98 million. As a group, research analysts forecast that Hesai Group will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

A number of institutional investors have recently added to or reduced their stakes in HSAI. SG Americas Securities LLC grew its holdings in Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company's stock worth $515,000 after acquiring an additional 631 shares during the last quarter. Franklin Resources Inc. grew its holdings in Hesai Group by 4.2% during the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company's stock worth $429,000 after acquiring an additional 782 shares during the last quarter. Main Management ETF Advisors LLC grew its holdings in Hesai Group by 1.6% during the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company's stock worth $1,367,000 after acquiring an additional 1,008 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in shares of Hesai Group in the 2nd quarter valued at $33,000. 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.