Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Average Recommendation of "Buy" by 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 received an average rating of "Buy" from the six analysts that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $28.74.

Several research analysts recently weighed in on HSAI shares. Jefferies Financial Group started coverage on shares of Hesai Group in a research note on Monday, June 9th. They issued a "buy" rating and a $29.30 target price for the company. UBS Group started coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They issued a "buy" rating and a $35.00 target price for the company. Finally, Morgan Stanley raised shares of Hesai Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Monday, July 28th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Hesai Group in the 1st quarter valued at about $338,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Hesai Group by 43.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 63,000 shares of the company's stock valued at $932,000 after acquiring an additional 19,000 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Hesai Group during the 4th quarter valued at about $1,000,000. Bank of America Corp DE increased its stake in shares of Hesai Group by 2,015.6% during the 4th quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock valued at $2,300,000 after acquiring an additional 158,590 shares during the last quarter. Finally, J. Safra Sarasin Holding AG acquired a new position in shares of Hesai Group during the 1st quarter valued at about $1,925,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Stock Performance

Shares of NASDAQ:HSAI remained flat at $29.80 during midday trading on Friday. The stock had a trading volume of 5,044,555 shares, compared to its average volume of 4,165,751. The company has a market capitalization of $3.91 billion, a PE ratio of 331.11 and a beta of 1.13. The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. Hesai Group has a fifty-two week low of $3.88 and a fifty-two week high of $30.44. The firm has a fifty day simple moving average of $23.86 and a 200 day simple moving average of $20.01.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.72). The firm 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 expect that Hesai Group will post -0.14 earnings per share for the current year.

About Hesai Group

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.