Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Hesai Group has a consensus “Buy” rating from six analysts: four rate it Buy, one Hold, and one Strong Buy. The average 12-month price target is $31.50, compared with a recent share price of $17.79.
• Hesai’s latest quarterly results exceeded expectations, with earnings of $0.02 per share versus the $0.01 estimate and revenue of $98.71 million versus the $96.50 million consensus.
• Institutional investors own 48.53% of the company, with firms including UBS Group and Robeco Schweiz increasing their positions while other hedge funds initiated new stakes.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) has been assigned a consensus rating of "Buy" from the six ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.50.

HSAI has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Hesai Group from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. Weiss Ratings reissued a "hold (c-)" rating on shares of Hesai Group in a research note on Friday, July 24th.

Hesai Group Stock Up 5.3%

HSAI stock opened at $17.79 on Tuesday. The company has a market cap of $2.49 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.37. The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. Hesai Group has a twelve month low of $14.29 and a twelve month high of $30.85. The business's 50-day simple moving average is $17.15 and its 200 day simple moving average is $21.48.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The business had revenue of $98.71 million during the quarter, compared to analyst estimates of $96.50 million. On average, research analysts anticipate that Hesai Group will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in Hesai Group by 32.6% during the fourth quarter. UBS Group AG now owns 1,218,110 shares of the company's stock worth $27,286,000 after buying an additional 299,195 shares during the last quarter. M&T Bank Corp acquired a new position in Hesai Group in the fourth quarter valued at about $2,904,000. Maxi Investments CY Ltd bought a new stake in shares of Hesai Group in the fourth quarter worth about $11,488,000. Robeco Schweiz AG increased its stake in Hesai Group by 33.9% during the 4th quarter. Robeco Schweiz AG now owns 1,179,500 shares of the company's stock worth $26,421,000 after purchasing an additional 298,500 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Hesai Group during the first quarter worth $1,658,000. Institutional investors own 48.53% of the company's stock.

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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