Hesai Group (NASDAQ:HSAI) Shares Gap Up - Time to Buy?

Key Points

• Hesai Group shares jumped from a $16.59 close to open at $17.50, later trading near $18.41 on elevated volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $29.75 price target, despite one recent downgrade to “strong sell.”
• The company exceeded revenue expectations but missed quarterly EPS 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 before the market opened on Thursday . The stock had previously closed at $16.59, but opened at $17.50. Hesai Group shares last traded at $18.4130, with a volume of 441,906 shares traded.

Analyst Upgrades and Downgrades

HSAI has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 19th. Wall Street Zen cut shares of Hesai Group from a "sell" rating to a "strong sell" rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Hesai Group has a consensus rating of "Buy" and a consensus price target of $29.75.

Hesai Group Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. The business has a 50 day moving average price of $16.92 and a 200-day moving average price of $20.22. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 45.45, a P/E/G ratio of 0.74 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $126.70 million for 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%. Research analysts predict that Hesai Group Sponsored ADR will post 0.61 EPS for the current fiscal year.

Institutional Trading of Hesai Group

Large investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its stake in shares of Hesai Group by 45.3% in the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company's stock valued at $44,000 after acquiring an additional 725 shares in the last quarter. Legal & General Group Plc bought a new position in Hesai Group during the third quarter worth $71,000. Blue Trust Inc. acquired a new stake in Hesai Group in the first quarter worth $51,000. SBI Securities Co. Ltd. grew its holdings in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company's stock worth $61,000 after purchasing an additional 746 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Hesai Group in the first quarter valued at $56,000. Institutional investors and hedge funds own 48.53% of the company's stock.

Hesai Group Company Profile

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.

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