Hesai Group (NASDAQ:HSAI) Shares Gap Up - Should You Buy?

Key Points

• Hesai Group shares jumped 9.4%, opening at $13.96 versus the prior close of $12.92, with roughly 610,396 shares traded.
• Analyst sentiment remains positive overall, with a consensus “Buy” rating and a $23.50 price target, despite some recent rating downgrades.
• The company slightly exceeded revenue expectations but missed quarterly earnings estimates, reporting $126.7 million in revenue and $0.01 EPS versus the $0.07 consensus.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s share price gapped up prior to trading on Tuesday. The stock had previously closed at $12.92, but opened at $13.96. Hesai Group shares last traded at $13.9140, with a volume of 610,396 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HSAI shares. Wall Street Zen raised Hesai Group from a "strong sell" rating to a "sell" rating in a report on Saturday, October 3rd. Weiss Ratings lowered Hesai Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $23.50.

Hesai Group Trading Up 9.4%

The firm has a market capitalization of $1.98 billion, a P/E ratio of 34.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36. The business's 50-day moving average is $16.79 and its 200 day moving average is $18.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued 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 business had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. As a group, analysts anticipate that Hesai Group Sponsored ADR will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Hedge funds have recently bought and sold shares of the company. Broad Peak Investment Advisers Pte Ltd acquired a new position in Hesai Group during the first quarter valued at approximately $16,539,000. Sapient Capital LLC bought a new position in Hesai Group in the first quarter valued at about $13,574,000. C WorldWide Group Holding A S raised its stake in Hesai Group by 1.4% during the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company's stock worth $12,382,000 after acquiring an additional 9,385 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Hesai Group in the 1st quarter valued at approximately $11,185,000. Finally, Cvfg LLC acquired a new position in Hesai Group during the 1st quarter worth approximately $3,574,000. 48.53% of the stock is owned by institutional investors.

Hesai Group Company Profile

Hesai Group is a lidar technology company that develops, manufactures and sells three-dimensional sensing products for automotive and robotic applications. Its lidar systems use laser-based sensing to help vehicles and machines detect and understand their surroundings, supporting functions such as advanced driver-assistance systems, autonomous driving and navigation.

The company's product portfolio includes long-, medium- and short-range lidar sensors, as well as related software and perception solutions.

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