Brokerages Set Hesai Group Sponsored ADR (NASDAQ:HSAI) Price Target at $28.74

Key Points

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Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) have been assigned an average rating of "Buy" from the six brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.74.

HSAI has been the subject of a number of research reports. UBS Group initiated coverage on Hesai Group in a research note on Tuesday, August 19th. They set a "buy" rating and a $35.00 price target for the company. Morgan Stanley raised Hesai Group from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $23.00 to $26.00 in a research note on Monday, July 28th. Finally, Jefferies Financial Group initiated coverage on Hesai Group in a research note on Monday, June 9th. They set a "buy" rating and a $29.30 price target for the company.

Hesai Group Stock Performance

HSAI traded up $0.20 during trading hours on Tuesday, hitting $23.26. The company's stock had a trading volume of 4,369,090 shares, compared to its average volume of 3,232,076. Hesai Group has a fifty-two week low of $3.56 and a fifty-two week high of $27.94. The company has a current ratio of 3.18, a quick ratio of 3.62 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.05 billion, a PE ratio of 258.44 and a beta of 1.12. The company has a 50-day simple moving average of $21.62 and a 200 day simple moving average of $18.93.

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

Hedge Funds Weigh In On Hesai Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lightspeed Management Company L.L.C. bought a new stake in shares of Hesai Group during the 4th quarter worth $110,560,000. Robert Bosch GmbH bought a new stake in shares of Hesai Group during the 4th quarter worth $105,768,000. Citigroup Inc. boosted its stake in shares of Hesai Group by 1,258.8% during the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock worth $41,063,000 after acquiring an additional 2,570,347 shares in the last quarter. Vanguard Group Inc. bought a new stake in shares of Hesai Group during the 1st quarter worth $25,997,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Hesai Group during the 1st quarter worth $16,696,000. 48.53% of the stock is owned by institutional investors.

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.