Analysts at UBS Group initiated coverage on shares of Hesai Group (NASDAQ:HSAI - Get Free Report) in a report released on Tuesday,Benzinga reports. The brokerage set a "buy" rating and a $35.00 price target on the stock. UBS Group's price objective indicates a potential upside of 31.48% from the company's previous close.
A number of 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 increased their price target for the stock from $23.00 to $26.00 in a report on Monday, July 28th. Jefferies Financial Group started coverage on Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $28.74.
Read Our Latest Stock Analysis on Hesai Group
Hesai Group Stock Up 4.0%
Shares of NASDAQ HSAI opened at $26.62 on Tuesday. The business has a 50-day simple moving average of $21.28 and a two-hundred day simple moving average of $18.69. Hesai Group has a 52 week low of $3.56 and a 52 week high of $27.94. The company has a market cap of $3.49 billion, a P/E ratio of 295.78 and a beta of 1.12. The company has a quick ratio of 3.62, a current ratio of 4.06 and a debt-to-equity ratio of 0.09.
Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.72). The firm had revenue of $98.61 million for the quarter, compared to analysts' expectations of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.18%. Research analysts anticipate that Hesai Group will post -0.14 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of HSAI. SG Americas Securities LLC grew its position 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. increased its stake in shares of Hesai Group by 4.2% in the second quarter. Franklin Resources Inc. now owns 19,548 shares of the company's stock worth $429,000 after buying an additional 782 shares during the period. Main Management ETF Advisors LLC raised 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 valued at $1,367,000 after buying an additional 1,008 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Hesai Group by 138.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after buying an additional 1,249 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in Hesai Group during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 48.53% of the company's stock.
Hesai Group Company Profile
(
Get Free Report)
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.
Further Reading
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