Hesai Group (NASDAQ:HSAI) Shares Gap Up – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price gapped up before the market opened on Tuesday. The stock had previously closed at $12.92, but opened at $13.96. Hesai Group shares last traded at $13.9140, with a volume of 610,396 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HSAI shares. Weiss Ratings cut Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Hesai Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $23.50.

Hesai Group Stock Down 5.7%

The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $16.57 and its 200 day moving average price is $18.21. The company has a market capitalization of $1.85 billion, a P/E ratio of 34.12, a P/E/G ratio of 0.72 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The business had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. As a group, equities research analysts predict that Hesai Group Sponsored ADR will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Large investors have recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in shares of Hesai Group by 45.3% during the 1st quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock worth $44,000 after buying an additional 725 shares during the period. Blue Trust Inc. acquired a new stake in Hesai Group in the 1st quarter valued at $51,000. Summit Securities Group LLC acquired a new stake in Hesai Group in the 1st quarter valued at $56,000. Leonteq Securities AG boosted its stake in Hesai Group by 107.9% in the 1st quarter. Leonteq Securities AG now owns 9,833 shares of the company’s stock valued at $188,000 after buying an additional 5,104 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Hesai Group in the second quarter valued at $234,000. 48.53% of the stock is currently owned by institutional investors.

About Hesai Group

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.