The Goldman Sachs Group Issues Positive Forecast for Hesai Group (NASDAQ:HSAI) Stock Price

Hesai Group (NASDAQ:HSAI) had its price target increased by The Goldman Sachs Group from $26.30 to $36.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on HSAI. Jefferies Financial Group initiated coverage on shares of Hesai Group in a research note on Monday, June 9th. They set a “buy” rating and a $29.30 price target on the stock. Morgan Stanley upgraded shares of Hesai Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Monday, July 28th. Finally, UBS Group initiated coverage on shares of Hesai Group in a research note on Tuesday, August 19th. They set a “buy” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Hesai Group presently has an average rating of “Buy” and an average price target of $32.26.

Hesai Group Stock Up 2.3%

Shares of NASDAQ:HSAI opened at $29.71 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79. The firm has a market capitalization of $3.90 billion, a PE ratio of 330.11 and a beta of 1.13. The firm’s 50-day moving average is $24.36 and its two-hundred day moving average is $20.39. Hesai Group has a 1 year low of $3.91 and a 1 year high of $30.85.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). The business had revenue of $98.61 million for the quarter, compared to analysts’ expectations of $846.98 million. Hesai Group had a return on equity of 3.11% and a net margin of 4.00%. Analysts predict that Hesai Group will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in Hesai Group by 2.8% in the second quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after purchasing an additional 631 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Hesai Group by 4.2% in the second quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock valued at $429,000 after purchasing an additional 782 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in Hesai Group by 1.6% in the second quarter. Main Management ETF Advisors LLC now owns 62,284 shares of the company’s stock valued at $1,367,000 after purchasing an additional 1,008 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new position in Hesai Group in the second quarter valued at approximately $33,000. 48.53% of the stock is owned by institutional investors and hedge funds.

About Hesai Group

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.