Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have received an average recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $30.1250.

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

Hedge Funds Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after buying an additional 961,493 shares during the period. Federated Hermes Inc. bought a new stake in shares of Hesai Group during the second quarter valued at approximately $156,000. Daiwa Securities Group Inc. bought a new stake in shares of Hesai Group during the second quarter valued at approximately $108,000. Qube Research & Technologies Ltd acquired a new position in shares of Hesai Group during the second quarter worth approximately $368,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Hesai Group by 24.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company’s stock worth $25,277,000 after purchasing an additional 224,381 shares in the last quarter. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Performance

NASDAQ HSAI opened at $18.15 on Monday. The stock has a market cap of $2.54 billion, a PE ratio of 41.25, a PEG ratio of 0.70 and a beta of 1.34. Hesai Group has a fifty-two week low of $14.69 and a fifty-two week high of $30.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. The firm’s fifty day moving average price is $21.28 and its two-hundred day moving average price is $22.99.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. On average, equities analysts expect that Hesai Group will post 0.66 EPS for the current fiscal year.

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.