Hesai Group (NASDAQ:HSAI) Shares Gap Up - What's Next?

Key Points

• Hesai Group shares opened higher, rising from a prior close of $13.13 to $13.74 and last trading at $13.61, up 5.9% with about 380,000 shares traded.
• Analysts maintain a consensus “Buy” rating with an average price target of $23.50, despite mixed recent rating changes from research firms.
• The company slightly beat revenue expectations with quarterly revenue of $126.7 million but missed EPS estimates, reporting $0.01 versus the expected $0.07. Institutional investors own approximately 48.5% of the stock.

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report) gapped up prior to trading on Monday. The stock had previously closed at $13.13, but opened at $13.74. Hesai Group shares last traded at $13.61, with a volume of 379,858 shares trading hands.

Analysts Set New Price Targets

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

Hesai Group Trading Up 5.9%

The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 1.20 and a beta of 1.36. The business's 50 day moving average price is $16.33 and its 200-day moving average price is $18.10. 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 announced its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $126.70 million during the quarter, compared to analysts' expectations of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. Equities analysts forecast that Hesai Group Sponsored ADR will post 0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HSAI. Sapient Capital LLC purchased a new stake in shares of Hesai Group during the 1st quarter worth $13,574,000. Weiss Asset Management LP purchased a new position in shares of Hesai Group in the 1st quarter valued at about $1,658,000. First Trust Bank Ltd. purchased a new position in shares of Hesai Group in the 2nd quarter valued at about $1,650,641. Empowered Funds LLC acquired a new stake in shares of Hesai Group in the first quarter valued at about $11,185,000. Finally, Cvfg LLC purchased a new stake in Hesai Group during the first quarter worth about $3,574,000. Institutional investors and hedge funds own 48.53% of the company's stock.

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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