Hesai Group (NASDAQ:HSAI) Trading 4.6% Higher – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares traded up 4.6% on Tuesday . The company traded as high as $16.75 and last traded at $16.8550. Approximately 836,933 shares traded hands during trading, a decline of 57% from the average session volume of 1,924,157 shares. The stock had previously closed at $16.12.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HSAI. Wall Street Zen lowered shares of Hesai Group from a “sell” rating to a “strong sell” rating in a report on Sunday. Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $29.75.

Hesai Group Stock Down 1.1%

The firm has a market cap of $2.32 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The business has a 50-day moving average price of $16.92 and a two-hundred day moving average price of $20.22. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The company had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. On average, equities research analysts expect that Hesai Group Sponsored ADR will post 0.61 EPS for the current year.

Institutional Trading of Hesai Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after acquiring an additional 725 shares during the last quarter. Blue Trust Inc. acquired a new stake in Hesai Group during the 1st quarter worth $51,000. Summit Securities Group LLC acquired a new position in Hesai Group in the first quarter valued at $56,000. SBI Securities Co. Ltd. lifted its position in 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 acquired a new stake in shares of Hesai Group during the third quarter worth $71,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.