Hesai Group (NASDAQ:HSAI) Hits New 52-Week High - Time to Buy?

Key Points

• Hesai Group has achieved a new 52-week high, trading at $30.41 before closing at $28.97, marking a 10% increase.
• Analyst ratings have improved with Morgan Stanley upgrading the stock to an "overweight" rating and raising the target price to $26.00, while UBS Group set a target of $35.00.
• Despite revenue of $98.61 million in its last earnings report, Hesai Group missed analysts' EPS estimates by $0.72, reporting only $0.04 EPS.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $30.41 and last traded at $28.97, with a volume of 1057756 shares changing hands. The stock had previously closed at $26.49.

Analysts Set New Price Targets

HSAI has been the subject of several recent research reports. UBS Group initiated coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They set a "buy" rating and a $35.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Hesai Group in a research report on Monday, June 9th. They set a "buy" rating and a $29.30 target price for the company. Finally, Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to data from MarketBeat.com, Hesai Group presently has an average rating of "Buy" and a consensus target price of $28.74.

Hesai Group Trading Up 2.1%

The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06. The firm's 50-day moving average price is $23.57 and its 200 day moving average price is $19.84. The company has a market capitalization of $3.75 billion, a P/E ratio of 317.44 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The firm had revenue of $98.61 million during the quarter, compared to the consensus estimate of $846.98 million. As a group, equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 earnings per share 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 the company. SG Americas Securities LLC grew its position in Hesai Group by 2.8% in the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company's stock worth $515,000 after purchasing an additional 631 shares in the last quarter. Franklin Resources Inc. grew its position in Hesai Group by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company's stock worth $429,000 after purchasing an additional 782 shares in the last quarter. Main Management ETF Advisors LLC grew its position in Hesai Group by 1.6% in the 2nd quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company's stock worth $1,367,000 after purchasing an additional 1,008 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock valued at $32,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in Hesai Group in the second quarter valued at about $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.