Hesai Group (NASDAQ:HSAI) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Hesai Group from a "sell" to a "hold" rating in a report issued Saturday.
• Analysts still skew positive overall with a consensus rating of "Buy" (1 Strong Buy, 6 Buy, 1 Hold) and a consensus target price of $29.96.
• Shares opened at $22.01 on Friday (down ~3%), giving a market cap of $3.08B and a P/E of 55.03, versus a 1‑year range of $14.69–$30.85, implying potential upside to the consensus target.

Hesai Group (NASDAQ:HSAI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

HSAI has been the subject of a number of other reports. BNP Paribas Exane started coverage on shares of Hesai Group in a research note on Thursday, March 26th. They issued an "outperform" rating for the company. Weiss Ratings lowered shares of Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $29.96.

Hesai Group Trading Down 3.0%

NASDAQ:HSAI opened at $22.01 on Friday. Hesai Group has a 1 year low of $14.69 and a 1 year high of $30.85. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 55.03 and a beta of 1.50. The business has a fifty day moving average of $23.15 and a 200-day moving average of $23.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.38 and a current ratio of 3.73.

Hesai Group (NASDAQ:HSAI - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $143.00 million during the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. Equities analysts predict that Hesai Group will post 0.67 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its holdings in Hesai Group by 2.8% in the 4th 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 during the last quarter. Main Management ETF Advisors LLC grew its stake in shares of 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 during the last quarter. Royal Bank of Canada raised its holdings in shares of Hesai Group by 15.8% in the 4th quarter. Royal Bank of Canada now owns 5,311 shares of the company's stock worth $119,000 after purchasing an additional 726 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company's stock worth $61,000 after purchasing an additional 746 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Hesai Group by 9.7% during the fourth quarter. Vontobel Holding Ltd. now owns 23,957 shares of the company's stock valued at $537,000 after purchasing an additional 2,123 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.

About Hesai Group

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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