Hesai Group (NASDAQ:HSAI) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Hesai Group (NASDAQ:HSAI - Free Report) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $29.30 target price on the stock.

HSAI has been the topic of several other research reports. Daiwa America upgraded shares of Hesai Group to a "strong-buy" rating in a research report on Tuesday, March 11th. Daiwa Capital Markets began coverage on Hesai Group in a research note on Tuesday, March 11th. They set a "buy" rating and a $35.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $24.43.

Hesai Group Stock Performance

NASDAQ HSAI traded up $0.12 during mid-day trading on Monday, reaching $20.74. 3,142,223 shares of the stock were exchanged, compared to its average volume of 2,836,634. The company has a market capitalization of $2.72 billion, a P/E ratio of -47.14, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.65 and a current ratio of 3.08. The business's 50 day moving average is $16.88 and its 200-day moving average is $15.75. Hesai Group has a 1 year low of $3.52 and a 1 year high of $24.18.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its earnings results on Monday, May 26th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.11. The firm had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. Hesai Group had a negative return on equity of 6.79% and a negative net margin of 20.31%. On average, equities research analysts forecast that Hesai Group will post -0.14 EPS for the current fiscal year.

Institutional Trading of Hesai Group

Hedge funds have recently bought and sold shares of the business. Lightspeed Management Company L.L.C. purchased a new stake in shares of Hesai Group in the fourth quarter valued at approximately $110,560,000. JPMorgan Chase & Co. acquired a new position in Hesai Group during the fourth quarter worth $1,494,000. BNP Paribas Financial Markets purchased a new stake in Hesai Group in the 4th quarter valued at $1,000,000. Bank of America Corp DE increased its stake in shares of Hesai Group by 2,015.6% in the 4th quarter. Bank of America Corp DE now owns 166,458 shares of the company's stock worth $2,300,000 after acquiring an additional 158,590 shares during the last quarter. Finally, Robert Bosch GmbH purchased a new position in shares of Hesai Group during the 4th quarter worth $105,768,000. Institutional investors and hedge funds own 48.53% of the company's stock.

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.