Hesai Group (NASDAQ:HSAI) Raised to “Strong-Buy” at Macquarie Capit

Hesai Group (NASDAQ:HSAI) was upgraded by equities research analysts at Macquarie Capit to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

HSAI has been the topic of several other research reports. CICC Research began coverage on shares of Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. Finally, Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Hesai Group currently has a consensus rating of “Buy” and an average target price of $30.80.

Hesai Group Trading Down 5.9%

HSAI opened at $25.99 on Tuesday. Hesai Group has a one year low of $10.41 and a one year high of $30.85. 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 business has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $23.94. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 61.88 and a beta of 1.14.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $111.72 million for the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. Analysts predict that Hesai Group will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after purchasing an additional 961,493 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Hesai Group by 78.2% in the second quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock worth $44,126,000 after buying an additional 882,180 shares during the period. JTC Employer Solutions Trustee Ltd lifted its position in shares of Hesai Group by 117.6% during the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock valued at $137,000 after buying an additional 3,368 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Hesai Group during the 2nd quarter valued at approximately $33,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Hesai Group in the 2nd quarter worth approximately $1,500,000. 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.