Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives $30.80 Average Target Price from Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $29.96.

Several equities research analysts recently issued reports on HSAI shares. CICC Research started coverage on Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target on the stock. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th.

Institutional Investors Weigh In On Hesai Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in 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 buying an additional 629,680 shares during the last quarter. SG Americas Securities LLC lifted its stake in Hesai Group by 696.6% in the third quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after buying an additional 163,310 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after acquiring an additional 584,468 shares during the period. Robeco Schweiz AG boosted its holdings in shares of Hesai Group by 131.8% during the third quarter. Robeco Schweiz AG now owns 881,000 shares of the company’s stock valued at $24,756,000 after acquiring an additional 501,000 shares during the period. Finally, Aberdeen Group plc bought a new position in shares of Hesai Group during the third quarter worth about $38,241,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Trading Up 1.7%

NASDAQ:HSAI opened at $25.67 on Friday. The company has a market cap of $3.59 billion, a PE ratio of 61.12 and a beta of 1.06. The business’s 50 day moving average is $26.14 and its two-hundred day moving average is $24.46. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. Hesai Group has a 52 week low of $10.41 and a 52 week high of $30.85.

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.