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

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been given a consensus recommendation of “Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $30.1250.

HSAI has been the subject of several recent research reports. Wall Street Zen cut Hesai Group from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Finally, BNP Paribas Exane began coverage on shares of Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating on the stock.

Hedge Funds Weigh In On Hesai Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sapient Capital LLC purchased a new position in shares of Hesai Group in the first quarter valued at approximately $13,574,000. Liontrust Investment Partners LLP raised its stake in Hesai Group by 21.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company’s stock valued at $3,149,000 after purchasing an additional 28,548 shares during the last quarter. Empowered Funds LLC acquired a new position in Hesai Group in the 1st quarter valued at $11,185,000. Quantinno Capital Management LP purchased a new position in Hesai Group in the 1st quarter valued at $379,000. Finally, Weiss Asset Management LP purchased a new position in Hesai Group in the 1st quarter valued at $1,658,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Stock Performance

HSAI opened at $16.40 on Friday. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. Hesai Group has a 12-month low of $14.40 and a 12-month high of $30.85. The firm has a 50 day moving average of $19.22 and a two-hundred day moving average of $22.51. The firm has a market capitalization of $2.30 billion, a PE ratio of 37.27, a P/E/G ratio of 0.63 and a beta of 1.35.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The business had revenue of $98.71 million during the quarter, compared to analysts’ expectations of $96.50 million. On average, analysts anticipate that Hesai Group will post 0.66 EPS for the current year.

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.