Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Average Recommendation of “Buy” from Brokerages

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.80.

HSAI has been the topic of a number of research reports. UBS Group assumed coverage on Hesai Group in a research note on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price target on the stock. CICC Research initiated coverage on Hesai Group in a report on Tuesday. They issued an “outperform” rating and a $23.50 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a report on Monday, September 22nd.

Hesai Group Stock Performance

Shares of HSAI stock opened at $18.73 on Thursday. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $23.53 and a 200-day moving average price of $22.65. Hesai Group has a 52 week low of $7.05 and a 52 week high of $30.85. The firm has a market capitalization of $2.46 billion, a PE ratio of 44.60 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Tuesday, November 11th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The company had revenue of $111.70 million for the quarter, compared to the consensus estimate of $116.11 million. As a group, equities research analysts expect that Hesai Group will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds have recently modified their holdings of the business. Bessemer Group Inc. bought a new position in Hesai Group in the 2nd quarter worth $33,000. Legal & General Group Plc purchased a new stake in Hesai Group in the third quarter worth about $71,000. Quantbot Technologies LP bought a new position in shares of Hesai Group in the third quarter worth about $123,000. Daiwa Securities Group Inc. purchased a new position in shares of Hesai Group during the 2nd quarter valued at about $108,000. Finally, JTC Employer Solutions Trustee Ltd lifted its position in shares of Hesai Group by 117.6% during the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock valued at $137,000 after buying an additional 3,368 shares in the last quarter. Institutional investors own 48.53% of the company’s stock.

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.