Brokerages Set Hesai Group Sponsored ADR (NASDAQ:HSAI) PT at $29.96

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been given an average rating of “Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $29.96.

A number of equities research analysts have recently issued reports on HSAI shares. BNP Paribas Exane started coverage on Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating on the stock. Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings cut Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HSAI. Bessemer Group Inc. increased its stake in shares of Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after purchasing an additional 725 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Hesai Group during the 1st quarter worth about $51,000. Summit Securities Group LLC acquired a new position in shares of Hesai Group during the 1st quarter worth about $56,000. SBI Securities Co. Ltd. boosted its stake in shares of Hesai Group by 37.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after acquiring an additional 746 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Hesai Group during the 3rd quarter worth approximately $71,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Trading Down 3.6%

Hesai Group stock opened at $20.63 on Thursday. The firm has a 50-day moving average of $21.75 and a 200-day moving average of $22.96. Hesai Group has a one year low of $14.69 and a one year high of $30.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 46.89, a P/E/G ratio of 0.83 and a beta of 1.50.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The company had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. On average, equities analysts expect that Hesai Group will post 0.65 earnings per share for the current fiscal year.

About Hesai Group

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.