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

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

A number of research firms recently issued reports on HSAI. The Goldman Sachs Group raised their price target on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 15th. CICC Research initiated coverage on Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price on the stock. Finally, Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th.

Hesai Group Stock Performance

Shares of Hesai Group stock opened at $23.56 on Monday. The firm’s fifty day simple moving average is $21.01 and its 200-day simple moving average is $22.76. Hesai Group has a 12 month low of $10.41 and a 12 month high of $30.85. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 56.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. The firm had revenue of $111.72 million during the quarter, compared to analysts’ expectations of $116.11 million. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. As a group, equities analysts forecast that Hesai Group will post -0.14 earnings per share for the current year.

Institutional Trading of Hesai Group

Several hedge funds have recently made changes to their positions in HSAI. Vontobel Holding Ltd. acquired a new position in Hesai Group during the second quarter worth about $699,000. Acadian Asset Management LLC lifted its stake in shares of Hesai Group by 2,217.8% during the first quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock valued at $1,656,000 after buying an additional 107,432 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Hesai Group in the first quarter valued at $2,972,000. Candriam S.C.A. purchased a new position in shares of Hesai Group during the 1st quarter worth about $2,324,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Hesai Group by 78.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock valued at $44,126,000 after purchasing an additional 882,180 shares during the last quarter. 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.