Hesai Group (NASDAQ:HSAI) Shares Up 4.6% - Here's What Happened

Key Points

• Hesai Group shares rose 4.6% to approximately $16.86 during Tuesday’s trading, despite volume running 57% below the average session level.
• Analyst sentiment remains generally positive, with a consensus “Buy” rating and an average price target of $29.75, although ratings ranged from Strong Buy to Strong Sell.
• The company slightly exceeded revenue expectations with quarterly sales of $126.7 million but missed EPS estimates by reporting $0.01 versus the expected $0.07. Institutional ownership stands at 48.53%, with several hedge funds recently increasing or initiating positions.

Hesai Group Sponsored ADR (NASDAQ:HSAI - Get Free Report)'s stock price shot up 4.6% during mid-day trading on Tuesday . The stock traded as high as $16.75 and last traded at $16.8550. 836,933 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,924,157 shares. The stock had previously closed at $16.12.

Analyst Ratings Changes

A number of brokerages have recently commented on HSAI. Weiss Ratings raised Hesai Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Wall Street Zen lowered Hesai Group from a "sell" rating to a "strong sell" rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Hesai Group currently has a consensus rating of "Buy" and an average price target of $29.75.

Hesai Group Price Performance

The company's fifty day moving average price is $16.89 and its two-hundred day moving average price is $20.34. 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 company has a market cap of $2.33 billion, a price-to-earnings ratio of 40.66, a PEG ratio of 0.76 and a beta of 1.37.

Hesai Group (NASDAQ:HSAI - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The company 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%. On average, equities research analysts forecast that Hesai Group Sponsored ADR will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. UBS Group AG grew its stake in shares of Hesai Group by 32.6% during the 4th quarter. UBS Group AG now owns 1,218,110 shares of the company's stock worth $27,286,000 after acquiring an additional 299,195 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Hesai Group in the first quarter worth $13,574,000. Maxi Investments CY Ltd acquired a new position in Hesai Group during the fourth quarter worth $11,488,000. Weiss Asset Management LP bought a new position in Hesai Group in the first quarter valued at $1,658,000. Finally, Robeco Schweiz AG grew its position in Hesai Group by 33.9% in the fourth quarter. Robeco Schweiz AG now owns 1,179,500 shares of the company's stock valued at $26,421,000 after purchasing an additional 298,500 shares in the last quarter. 48.53% of the stock is currently owned by institutional investors.

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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