Hesai Group (NASDAQ:HSAI) Trading 7.2% Higher - Time to Buy?

Key Points

• Hesai Group's share price increased by 7.2%, closing at $27.43 following a previous close of $25.59, despite a significant decline in trading volume.
• Analysts are optimistic about Hesai Group, with Morgan Stanley upgrading their rating and setting a target price of $26, alongside a consensus "Buy" rating from four analysts.
• The company reported earnings of $0.04 per share, which was substantially below the consensus estimate of $0.76, raising concerns about its financial performance.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) rose 7.2% on Monday . The company traded as high as $26.94 and last traded at $27.43. Approximately 474,768 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 4,245,407 shares. The stock had previously closed at $25.59.

Wall Street Analysts Forecast Growth

HSAI has been the topic of a number of research analyst reports. UBS Group initiated coverage on Hesai Group in a research note on Tuesday. They issued a "buy" rating and a $35.00 target price on the stock. Jefferies Financial Group initiated coverage on Hesai Group in a research note on Monday, June 9th. They issued a "buy" rating and a $29.30 target price on the stock. Finally, Morgan Stanley upgraded 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 note on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Hesai Group has an average rating of "Buy" and a consensus target price of $28.74.

Hesai Group Trading Down 11.0%

The company has a quick ratio of 3.62, a current ratio of 3.18 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $21.55 and a 200 day moving average of $18.84. The firm has a market cap of $3.02 billion, a PE ratio of 256.22 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The firm had revenue of $98.61 million during the quarter, compared to analysts' expectations of $846.98 million. Equities analysts anticipate that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors have recently bought and sold shares of HSAI. JPMorgan Chase & Co. purchased a new position in Hesai Group in the fourth quarter valued at approximately $1,494,000. Geode Capital Management LLC lifted its stake in Hesai Group by 366.0% in the fourth 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. Renaissance Technologies LLC purchased a new position in Hesai Group in the fourth quarter valued at approximately $138,000. Marshall Wace LLP bought a new stake in Hesai Group during the 4th quarter valued at $3,697,000. Finally, Hsbc Holdings PLC bought a new stake in Hesai Group during the 4th quarter valued at $159,000. Hedge funds and other institutional investors 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.