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Hesai Group (NASDAQ:HSAI) Shares Gap Up - Still a Buy?

Hesai Group logo with Auto/Tires/Trucks background

Key Points

  • Hesai Group's stock price opened at $22.21 after previously closing at $21.30, indicating a positive market reaction with a trading volume of 1,835,347 shares.
  • Analyst ratings for Hesai Group have improved, with Morgan Stanley upgrading the stock to "overweight" and raising the target price from $23.00 to $26.00, while Jefferies set a price objective of $29.30.
  • The company reported $72.39 million in revenue for the last quarter, exceeding expectations, although it recorded a negative net margin of 0.72% and a PE ratio of -737.60.
  • Five stocks we like better than Hesai Group.
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Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $21.30, but opened at $22.21. Hesai Group shares last traded at $22.00, with a volume of 1,835,347 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HSAI. Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $23.00 to $26.00 in a research report on Monday. Jefferies Financial Group assumed 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. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Hesai Group currently has an average rating of "Buy" and an average price target of $27.18.

View Our Latest Analysis on Hesai Group

Hesai Group Stock Performance

The stock has a market capitalization of $2.90 billion, a PE ratio of -737.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The firm's 50 day moving average is $20.75 and its two-hundred day moving average is $17.94.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. Hesai Group had a negative net margin of 0.72% and a positive return on equity of 1.00%. The company had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. As a group, 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

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Hesai Group during the fourth quarter worth approximately $1,494,000. Geode Capital Management LLC increased its position in shares of Hesai Group by 366.0% in the 4th quarter. Geode Capital Management LLC now owns 47,700 shares of the company's stock valued at $659,000 after purchasing an additional 37,464 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Hesai Group in the 4th quarter valued at approximately $1,667,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Hesai Group in the 4th quarter valued at approximately $168,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Hesai Group in the 4th quarter valued at approximately $138,000. 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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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