Hesai Group (NASDAQ:HSAI) Shares Gap Up – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI) gapped up before the market opened on Tuesday . The stock had previously closed at $24.25, but opened at $25.80. Hesai Group shares last traded at $26.14, with a volume of 1,299,627 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. The Goldman Sachs Group raised their price target on Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, CICC Research initiated coverage on Hesai Group in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.80.

Hesai Group Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. The company has a market capitalization of $3.50 billion, a PE ratio of 63.73 and a beta of 1.14. The stock has a 50-day simple moving average of $20.98 and a 200 day simple moving average of $23.02.

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

Institutional Trading of Hesai Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Hesai Group by 18.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after purchasing an additional 629,680 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Hesai Group by 29.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares in the last quarter. Wellington Management Group LLP grew its holdings in Hesai Group by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock valued at $51,992,000 after buying an additional 98,884 shares during the last quarter. National Bank of Canada FI increased its position in Hesai Group by 108.4% during the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock worth $41,647,000 after buying an additional 770,816 shares in the last quarter. Finally, Aberdeen Group plc purchased a new position in Hesai Group during the third quarter worth $38,241,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.