Hesai Group (NASDAQ:HSAI) Stock Price Up 7.6% - Still a Buy?

Key Points

• Hesai Group shares rose 7.6% to about $19.12 in midday trading, although volume was roughly 70% below the average session level.
• Analysts maintain a consensus “Buy” rating with an average price target of $29.75, implying substantial upside from the current price.
• The company narrowly missed quarterly earnings expectations, reporting $0.01 EPS versus $0.08 expected, while revenue of $126.7 million slightly exceeded estimates.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s share price traded up 7.6% during mid-day trading on Thursday . The stock traded as high as $19.17 and last traded at $19.1220. 574,132 shares were traded during trading, a decline of 70% from the average session volume of 1,927,885 shares. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

HSAI has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Hesai Group from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings reissued a "hold (c-)" rating on shares of Hesai Group in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Hesai Group presently has a consensus rating of "Buy" and an average price target of $29.75.

Hesai Group Trading Up 4.0%

The business has a fifty day moving average price of $16.83 and a 200-day moving average price of $20.74. The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.59 billion, a P/E ratio of 45.10, a PEG ratio of 0.70 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Tuesday, August 18th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.07). The firm had revenue of $126.70 million for the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.58% and a net margin of 14.77%. On average, analysts forecast that Hesai Group Sponsored ADR will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of Hesai Group by 2.8% in the fourth quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company's stock valued at $357,000 after acquiring an additional 430 shares in the last quarter. Main Management ETF Advisors LLC raised its stake in Hesai Group by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company's stock worth $1,123,000 after purchasing an additional 512 shares in the last quarter. Bessemer Group Inc. raised its stake in Hesai Group by 45.3% in the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company's stock worth $44,000 after purchasing an additional 725 shares in the last quarter. Royal Bank of Canada boosted its holdings in Hesai Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company's stock valued at $119,000 after purchasing an additional 726 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company's stock valued at $61,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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