Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Hesai Group Sponsored ADR has received an average rating of "Buy" from seven brokerages, with a consensus 1-year target price of $32.26.
• Analysts from Morgan Stanley and Goldman Sachs have recently increased their price targets for the stock, with Goldman Sachs raising it to $36.00.
• The company's latest quarterly earnings reported an EPS of $0.04, falling short of the $0.76 consensus estimate, highlighting challenges in meeting market expectations.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) has earned an average rating of "Buy" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $32.26.

A number of analysts recently commented on HSAI shares. Morgan Stanley upgraded Hesai Group from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $23.00 to $26.00 in a report on Monday, July 28th. UBS Group assumed coverage on Hesai Group in a research note on Tuesday, August 19th. They set a "buy" rating and a $35.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Hesai Group from $26.30 to $36.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Hesai Group in a report on Saturday, September 27th.

Institutional Trading of Hesai Group

Large investors have recently bought and sold shares of the company. Citigroup Inc. raised its stake in shares of Hesai Group by 1,258.8% in the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock valued at $41,063,000 after buying an additional 2,570,347 shares during the period. Vanguard Group Inc. bought a new stake in Hesai Group in the 1st quarter valued at about $25,997,000. Allianz Asset Management GmbH purchased a new stake in Hesai Group during the first quarter valued at about $16,696,000. Goldman Sachs Group Inc. boosted its position in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock worth $18,346,000 after purchasing an additional 961,493 shares during the period. Finally, Norges Bank purchased a new position in shares of Hesai Group in the second quarter worth about $20,619,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Down 0.7%

HSAI opened at $26.88 on Wednesday. Hesai Group has a fifty-two week low of $4.02 and a fifty-two week high of $30.85. The firm has a market capitalization of $3.53 billion, a P/E ratio of 298.67 and a beta of 1.15. The company's 50-day moving average is $25.84 and its 200 day moving average is $20.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

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. Research analysts expect that Hesai Group will post -0.14 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.