Hesai Group (NASDAQ:HSAI - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $20.16, but opened at $19.57. Hesai Group shares last traded at $19.17, with a volume of 459,637 shares traded.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Daiwa Capital Markets began coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a "buy" rating and a $35.00 price target on the stock. Daiwa America upgraded Hesai Group to a "strong-buy" rating in a research note on Tuesday, March 11th.
Check Out Our Latest Stock Report on HSAI
Hesai Group Trading Up 5.7%
The company has a market capitalization of $2.59 billion, a P/E ratio of -44.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The firm has a fifty day moving average price of $16.37 and a 200-day moving average price of $15.15.
Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. The company had revenue of $72.39 million for the quarter, compared to the consensus estimate of $532.16 million. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. On average, equities research analysts anticipate that Hesai Group will post -0.14 earnings per share for the current year.
Hedge Funds Weigh In On Hesai Group
Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after acquiring an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Hesai Group during the 1st quarter valued at approximately $42,000. Russell Investments Group Ltd. bought a new position in Hesai Group in the 1st quarter worth approximately $150,000. Renaissance Technologies LLC bought a new stake in Hesai Group during the 4th quarter valued at $138,000. Finally, Sovereign Financial Group Inc. bought a new position in shares of Hesai Group in the first quarter worth $148,000. 48.53% of the stock is owned by institutional investors.
About Hesai Group
(
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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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