Hesai Group (NASDAQ:HSAI) Shares Gap Up - Here's What Happened

Key Points

• Hesai Group shares opened higher, rising from a previous close of $12.18 to $12.82 before trading around $12.76, up approximately 4.5%.
• Analyst sentiment remains generally positive, with the stock carrying an average “Buy” rating and a consensus price target of $23.50, despite some recent rating downgrades.
• The company reported quarterly revenue of $126.7 million, slightly above expectations, but earnings per share of $0.01 fell short of the $0.07 consensus estimate; institutional investors own 48.53% of the stock.

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) gapped up before the market opened on Monday. The stock had previously closed at $12.18, but opened at $12.82. Hesai Group shares last traded at $12.7610, with a volume of 152,605 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Hesai Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 3rd. Weiss Ratings lowered shares of Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Hesai Group currently has an average rating of "Buy" and an average price target of $23.50.

Hesai Group Trading Up 4.5%

The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $15.84 and a 200 day moving average of $19.89. The firm has a market cap of $2.00 billion, a PE ratio of 31.10, a P/E/G ratio of 1.18 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI - Get Free Report) last announced its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million during the quarter, compared to analysts' expectations of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. Equities analysts anticipate that Hesai Group Sponsored ADR will post 0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HSAI. Sapient Capital LLC bought a new stake in Hesai Group during the first quarter valued at $13,574,000. C WorldWide Group Holding A S raised its stake in Hesai Group by 1.4% in the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company's stock valued at $12,382,000 after purchasing an additional 9,385 shares in the last quarter. Empowered Funds LLC purchased a new stake in Hesai Group in the first quarter valued at approximately $11,185,000. Cvfg LLC bought a new stake in Hesai Group during the first quarter valued at approximately $3,574,000. Finally, Liontrust Investment Partners LLP lifted its position in Hesai Group by 21.0% during the first quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company's stock valued at $3,149,000 after purchasing an additional 28,548 shares during the last quarter. 48.53% of the stock is owned by institutional investors.

Hesai Group Company Profile

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company's products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.

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