Hesai Group (NASDAQ:HSAI) Upgraded at Macquarie Capit

Macquarie Capit upgraded shares of Hesai Group (NASDAQ:HSAI) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other research analysts have also recently issued reports on HSAI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, CICC Research began coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and an average price target of $30.80.

Hesai Group Stock Performance

NASDAQ:HSAI opened at $25.09 on Tuesday. The stock has a market capitalization of $3.51 billion, a P/E ratio of 59.74 and a beta of 1.14. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04. Hesai Group has a 1 year low of $10.41 and a 1 year high of $30.85. The firm has a 50 day moving average of $24.41 and a 200-day moving average of $23.95.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.25 earnings per share for the quarter, beating 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 return on equity of 8.04% and a net margin of 15.70%. As a group, sell-side analysts anticipate that Hesai Group will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HSAI. Advisors Asset Management Inc. raised its stake in shares of Hesai Group by 2.8% during the fourth quarter. Advisors Asset Management Inc. now owns 15,929 shares of the company’s stock worth $357,000 after buying an additional 430 shares during the last quarter. Main Management ETF Advisors LLC grew its holdings in Hesai Group by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 50,112 shares of the company’s stock worth $1,123,000 after acquiring an additional 512 shares during the period. SG Americas Securities LLC raised its position in shares of Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after acquiring an additional 631 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after purchasing an additional 746 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Hesai Group by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after purchasing an additional 782 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

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.