Hesai Group (NASDAQ:HSAI) Stock Price Up 7.6% – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price traded up 7.6% during mid-day trading on Thursday . The company traded as high as $19.17 and last traded at $19.1220. 574,132 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,927,885 shares. The stock had previously closed at $17.77.

Wall Street Analyst Weigh In

HSAI has been the topic of a number of recent research reports. Weiss Ratings raised shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Wall Street Zen downgraded shares of Hesai Group from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $29.75.

Hesai Group Price Performance

The company has a fifty day simple moving average of $16.86 and a two-hundred day simple moving average of $20.69. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 0.80 and a beta of 1.37. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 5.37.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Tuesday, August 18th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%.The company had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. As a group, equities research analysts expect that Hesai Group Sponsored ADR will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

A number of large investors have recently bought and sold shares of HSAI. Schroder Investment Management Group raised its position in shares of Hesai Group by 17,419.6% in the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after buying an additional 2,054,114 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Hesai Group by 8,076.3% during the 4th quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock worth $28,311,000 after acquiring an additional 1,248,436 shares during the period. Norges Bank acquired a new stake in shares of Hesai Group during the 4th quarter worth approximately $24,260,000. Goldman Sachs Group Inc. boosted its position in shares of Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after acquiring an additional 961,493 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Hesai Group by 124.6% in the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after acquiring an additional 901,370 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.