Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Average Rating of “Buy” by Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have received an average recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $30.80.

A number of brokerages recently issued reports on HSAI. Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Finally, CICC Research assumed coverage on shares of Hesai Group in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price objective on the stock.

Hedge Funds Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently made changes to their positions in HSAI. Vanguard Group Inc. increased its position in Hesai Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock valued at $91,984,000 after purchasing an additional 28,102 shares during the period. Allianz Asset Management GmbH increased its position in shares of Hesai Group by 29.1% during the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after buying an additional 584,468 shares during the period. Wellington Management Group LLP lifted its holdings in Hesai Group by 5.6% in the third quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock valued at $51,992,000 after buying an additional 98,884 shares during the period. National Bank of Canada FI boosted its position in Hesai Group by 108.4% during the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock valued at $41,647,000 after acquiring an additional 770,816 shares during the last quarter. Finally, Aberdeen Group plc acquired a new stake in Hesai Group during the 3rd quarter worth about $38,241,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Stock Down 0.2%

Shares of NASDAQ:HSAI opened at $25.96 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.37 and a current ratio of 5.75. Hesai Group has a 52-week low of $10.41 and a 52-week high of $30.85. The company has a market capitalization of $3.63 billion, a PE ratio of 61.81 and a beta of 1.14. The company has a fifty day moving average of $24.00 and a 200-day moving average of $23.88.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data 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. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%.The business had revenue of $111.72 million for the quarter, compared to analyst estimates of $116.11 million. On average, equities analysts predict that Hesai Group will post -0.14 EPS for the current fiscal year.

Hesai Group Company Profile

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.