Hesai Group (NASDAQ:HSAI) Price Target Raised to $36.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised Hesai Group's price target from $26.30 to $36.00, indicating a potential upside of 23.92% based on the stock's previous close.
• Hesai Group's recent earnings report showed an EPS of $0.04, missing estimates of $0.76, with revenue of $98.61 million compared to expectations of $846.98 million.
• Currently, the stock has an average rating of "Buy" from analysts, with a consensus price target of $32.26.

Hesai Group (NASDAQ:HSAI - Free Report) had its price target lifted by The Goldman Sachs Group from $26.30 to $36.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently commented on HSAI. Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $23.00 to $26.00 in a report on Monday, July 28th. UBS Group started coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Hesai Group in a report on Monday, June 9th. They set a "buy" rating and a $29.30 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $32.26.

Hesai Group Trading Up 2.3%

NASDAQ HSAI traded up $0.66 during trading hours on Monday, hitting $29.71. The company's stock had a trading volume of 3,738,713 shares, compared to its average volume of 3,181,020. The stock has a fifty day moving average of $24.36 and a 200 day moving average of $20.39. Hesai Group has a twelve month low of $3.91 and a twelve month high of $30.85. The firm has a market capitalization of $3.90 billion, a P/E ratio of 330.11 and a beta of 1.13. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06.

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

Institutional Trading of Hesai Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC bought a new position in Hesai Group in the 2nd quarter valued at $279,000. Eschler Asset Management LLP acquired a new stake in shares of Hesai Group in the second quarter worth approximately $4,423,000. Balyasny Asset Management L.P. purchased a new stake in Hesai Group in the second quarter valued at $5,231,000. Bank of America Corp DE raised its holdings in shares of Hesai Group by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 1,208,332 shares of the company's stock valued at $26,523,000 after buying an additional 150,022 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Hesai Group during the 2nd quarter worth about $4,521,000. Hedge funds and other institutional investors 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.