Hesai Group (NASDAQ:HSAI) Upgraded to “Hold” at Wall Street Zen

Hesai Group (NASDAQ:HSAI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Several other equities research analysts also recently weighed in on the stock. BNP Paribas Exane started coverage on shares of Hesai Group in a report on Thursday, March 26th. They issued an “outperform” rating for the company. Weiss Ratings cut shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hesai Group has a consensus rating of “Buy” and a consensus price target of $30.12.

Hesai Group Stock Performance

HSAI stock traded down $0.24 on Friday, reaching $16.16. The company’s stock had a trading volume of 1,751,278 shares, compared to its average volume of 1,898,474. Hesai Group has a 52 week low of $14.40 and a 52 week high of $30.85. The company has a market capitalization of $2.26 billion, a P/E ratio of 36.73, a price-to-earnings-growth ratio of 0.62 and a beta of 1.35. The firm has a fifty day moving average of $19.09 and a two-hundred day moving average of $22.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Friday, May 15th. The company reported $0.02 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 firm had revenue of $98.71 million for the quarter, compared to analysts’ expectations of $96.50 million. As a group, analysts predict that Hesai Group will post 0.66 EPS for the current fiscal year.

Institutional Trading of Hesai Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after buying an additional 725 shares during the period. Legal & General Group Plc acquired a new position in Hesai Group during the third quarter worth about $71,000. Blue Trust Inc. bought a new stake in Hesai Group in the first quarter worth about $51,000. SBI Securities Co. Ltd. raised its position in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after acquiring an additional 746 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Hesai Group in the 1st quarter valued at about $56,000. 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.