Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives $28.74 Average PT from Analysts

Key Points

• The Hesai Group Sponsored ADR (NASDAQ:HSAI) has received a consensus rating of "Buy" from six brokerages, with an average 1-year price target of $28.74.
• Several firms have upgraded their ratings, including Morgan Stanley and Jefferies Financial Group, with target prices reaching as high as $35.00.
• Hesai Group reported $0.04 EPS for the latest quarter, significantly missing the expected $0.76 EPS, indicating financial challenges amidst a net revenue of $98.61 million.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) has been given a consensus rating of "Buy" by the six research firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.74.

HSAI has been the subject of several research analyst reports. Jefferies Financial Group started coverage on shares of Hesai Group in a report on Monday, June 9th. They issued a "buy" rating and a $29.30 price objective for the company. UBS Group assumed coverage on Hesai Group in a report on Tuesday, August 19th. They issued a "buy" rating and a $35.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Hesai Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $23.00 to $26.00 in a research report on Monday, July 28th.

Hesai Group Stock Up 1.5%

Shares of HSAI traded up $0.44 during midday trading on Friday, hitting $29.23. The company had a trading volume of 2,645,691 shares, compared to its average volume of 4,153,969. The company's 50 day moving average price is $23.99 and its 200 day moving average price is $20.07. Hesai Group has a 52 week low of $3.91 and a 52 week high of $30.44. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 325.06 and a beta of 1.14. The company has a quick ratio of 2.79, a current ratio of 3.18 and a debt-to-equity ratio of 0.06.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. grew its position in Hesai Group by 1,258.8% in the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company's stock worth $41,063,000 after purchasing an additional 2,570,347 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Hesai Group during the first quarter valued at $25,997,000. Allianz Asset Management GmbH acquired a new position in Hesai Group in the first quarter valued at about $16,696,000. Millennium Management LLC acquired a new position in shares of Hesai Group in the 4th quarter worth approximately $14,736,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Hesai Group by 345.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company's stock valued at $18,346,000 after buying an additional 961,493 shares in the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.