Shares of Hesai Group (NASDAQ:HSAI - Get Free Report) shot up 4.1% on Thursday . The company traded as high as $21.74 and last traded at $21.68. 963,423 shares changed hands during trading, a decline of 65% from the average session volume of 2,729,810 shares. The stock had previously closed at $20.82.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on HSAI. Daiwa America raised shares of Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They set a "buy" rating and a $35.00 target price on the stock.
Get Our Latest Stock Report on HSAI
Hesai Group Trading Down 7.3%
The business's 50-day moving average price is $16.36 and its 200 day moving average price is $14.90. 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 market capitalization of $2.45 billion, a price-to-earnings ratio of -42.45, a PEG ratio of 1.44 and a beta of 1.18.
Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its earnings results on Monday, May 26th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.11. The business had revenue of $72.39 million for the quarter, compared to analysts' expectations 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 analysts forecast that Hesai Group will post -0.14 earnings per share for the current fiscal year.
Institutional Trading of Hesai Group
A number of hedge funds and other institutional investors have recently made changes to their positions in HSAI. SBI Securities Co. Ltd. increased its stake in shares of Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company's stock worth $32,000 after buying an additional 1,249 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Hesai Group in the first quarter worth $42,000. Renaissance Technologies LLC bought a new stake in shares of Hesai Group in the fourth quarter worth $138,000. Sovereign Financial Group Inc. bought a new stake in shares of Hesai Group in the first quarter worth $148,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Hesai Group in the first quarter worth $150,000. Institutional investors own 48.53% of the company's stock.
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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