Hesai Group (NASDAQ:HSAI) Shares Gap Up to $10.84

Posted by Defense World Staff on Sep 10th, 2023

Hesai Group (NASDAQ:HSAI – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $10.84, but opened at $11.10. Hesai Group shares last traded at $11.39, with a volume of 34,075 shares.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group cut shares of Hesai Group from a “buy” rating to a “neutral” rating in a research report on Friday, August 18th.

View Our Latest Stock Report on HSAI

Hesai Group Price Performance

The business’s 50 day simple moving average is $11.12 and its 200-day simple moving average is $11.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.96 and a current ratio of 4.55.

Hesai Group (NASDAQ:HSAI – Get Free Report) last issued its earnings results on Monday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $60.72 million for the quarter. Equities analysts forecast that Hesai Group will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Hesai Group during the 1st quarter valued at $68,000. UBS Group AG acquired a new stake in shares of Hesai Group in the 1st quarter valued at $78,000. Barclays PLC acquired a new stake in shares of Hesai Group in the 1st quarter valued at $110,000. Citigroup Inc. acquired a new stake in shares of Hesai Group in the 2nd quarter valued at $147,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Hesai Group in the 1st quarter valued at $157,000. Institutional investors and hedge funds own 15.02% of the company’s stock.

About Hesai Group

(Get Free Report)

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.