Hesai Group (NASDAQ:HSAI) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Hesai Group (NASDAQ:HSAI) in a research note published on Monday morning, Marketbeat reports. The firm issued a buy rating and a $29.30 target price on the stock.

Several other research firms also recently weighed in on HSAI. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. Daiwa Capital Markets started coverage on Hesai Group in a research note on Tuesday, March 11th. They issued a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $24.43.

Hesai Group Stock Performance

Shares of NASDAQ HSAI opened at $20.27 on Monday. Hesai Group has a 12-month low of $3.52 and a 12-month high of $24.18. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -46.07, a price-to-earnings-growth ratio of 1.44 and a beta of 1.06. The company has a current ratio of 3.08, a quick ratio of 2.65 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $16.72 and a 200 day moving average of $15.69.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. The business had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $532.16 million. On average, research analysts anticipate that Hesai Group will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HSAI. Fox Run Management L.L.C. bought a new stake in Hesai Group during the fourth quarter valued at about $177,000. JPMorgan Chase & Co. bought a new position in shares of Hesai Group in the fourth quarter worth about $1,494,000. Geode Capital Management LLC grew its position in shares of Hesai Group by 366.0% during the fourth quarter. Geode Capital Management LLC now owns 47,700 shares of the company’s stock worth $659,000 after purchasing an additional 37,464 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Hesai Group during the fourth quarter worth about $1,667,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Hesai Group during the 4th quarter valued at approximately $168,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

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.