Hesai Group (NASDAQ:HSAI) Hits New 12-Month High - Should You Buy?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.63 and last traded at $24.24, with a volume of 624729 shares. The stock had previously closed at $23.66.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $24.43.

Hesai Group Trading Up 8.4%

The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -725.00 and a beta of 1.14. The company has a fifty day moving average price of $20.30 and a two-hundred day moving average price of $17.61. The company has a current ratio of 4.06, a quick ratio of 3.62 and a debt-to-equity ratio of 0.09.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings results on Monday, May 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.11. The firm had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. As a group, research analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Institutional investors and hedge funds have recently modified their holdings of the company. Lightspeed Management Company L.L.C. acquired a new stake in Hesai Group in the fourth quarter valued at $110,560,000. Robert Bosch GmbH acquired a new stake in Hesai Group in the fourth quarter valued at $105,768,000. Citigroup Inc. raised its stake in Hesai Group by 1,258.8% in the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock valued at $41,063,000 after buying an additional 2,570,347 shares in the last quarter. Vanguard Group Inc. acquired a new stake in Hesai Group in the first quarter valued at $25,997,000. Finally, Goldman Sachs Group Inc. raised its stake in Hesai Group by 345.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock valued at $18,346,000 after buying an additional 961,493 shares in the last quarter. Institutional investors and hedge funds own 48.53% of the company's stock.

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.