Hesai Group (NASDAQ:HSAI) Trading Up 7.2% – Time to Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price rose 7.2% during trading on Thursday . The stock traded as high as $28.68 and last traded at $28.53. Approximately 2,261,431 shares were traded during trading, a decline of 13% from the average daily volume of 2,607,316 shares. The stock had previously closed at $26.61.

Analyst Upgrades and Downgrades

HSAI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. The Goldman Sachs Group boosted their price objective on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, CICC Research began coverage on Hesai Group in a research note on Tuesday, November 25th. They set an “outperform” rating and a $23.50 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $30.80.

Hesai Group Price Performance

The stock has a 50-day moving average of $21.49 and a two-hundred day moving average of $23.33. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 68.71 and a beta of 1.14. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The company had revenue of $111.72 million during the quarter, compared to analyst estimates of $116.11 million. On average, analysts anticipate that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Hesai Group in the second quarter worth $33,000. Legal & General Group Plc purchased a new stake in Hesai Group in the 3rd quarter worth about $71,000. Daiwa Securities Group Inc. purchased a new stake in Hesai Group in the 2nd quarter worth about $108,000. Quantbot Technologies LP purchased a new position in Hesai Group during the 3rd quarter valued at about $123,000. Finally, JTC Employer Solutions Trustee Ltd lifted its position in shares of Hesai Group by 117.6% in the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock worth $137,000 after purchasing an additional 3,368 shares in the last quarter. 48.53% of the stock is currently owned by hedge funds and other 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.