Hesai Group (NASDAQ:HSAI) Receives "Hold (C-)" Rating from Weiss Ratings

Key Points

• Hesai Group has received a "Hold (C-)" rating from Weiss Ratings, indicating a cautious outlook from analysts.
• Analysts from Goldman Sachs and UBS Group have both upgraded their price targets for Hesai Group, now set at $36.00 and $35.00 respectively, with most ratings being favorable.
• The company reported a significant earnings miss in its last quarterly results, with an actual EPS of $0.04 compared to consensus estimates of $0.76.

Hesai Group (NASDAQ:HSAI - Get Free Report)'s stock had its "hold (c-)" rating reissued by investment analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also issued reports on HSAI. The Goldman Sachs Group increased their price target on Hesai Group from $26.30 to $36.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. UBS Group assumed coverage on Hesai Group in a research note on Tuesday, August 19th. They set a "buy" rating and a $35.00 price target for the company. Finally, Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $23.00 to $26.00 in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Hesai Group has an average rating of "Buy" and a consensus target price of $32.26.

Hesai Group Stock Performance

Shares of HSAI stock opened at $26.87 on Wednesday. Hesai Group has a 12-month low of $4.02 and a 12-month high of $30.85. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 298.56 and a beta of 1.15. The business has a 50 day simple moving average of $26.00 and a 200 day simple moving average of $21.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. On average, equities research analysts anticipate that Hesai Group will post -0.14 EPS for the current year.

Institutional Trading of Hesai Group

Several hedge funds and other institutional investors have recently modified their holdings of HSAI. SG Americas Securities LLC acquired a new stake in shares of Hesai Group in the first quarter worth $338,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Hesai Group in the first quarter worth $2,782,000. Perpetual Ltd acquired a new stake in shares of Hesai Group in the first quarter worth $374,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Hesai Group by 2,611.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 413,041 shares of the company's stock worth $6,113,000 after buying an additional 397,805 shares during the period. Finally, GF Fund Management CO. LTD. boosted its position in shares of Hesai Group by 68.4% in the first quarter. GF Fund Management CO. LTD. now owns 294,750 shares of the company's stock worth $4,362,000 after buying an additional 119,750 shares during the period. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Company Profile

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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