Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives $32.26 Consensus Price Target from Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have earned an average rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $32.26.

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hesai Group in a research note on Wednesday, October 8th. Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $23.00 to $26.00 in a research report on Monday, July 28th. The Goldman Sachs Group raised their price target on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, UBS Group assumed coverage on shares of Hesai Group in a research report on Tuesday, August 19th. They set a “buy” rating and a $35.00 price objective for the company.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Hesai Group by 18.3% during the third quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock worth $114,601,000 after purchasing an additional 629,680 shares during the last quarter. Citigroup Inc. lifted its position in shares of Hesai Group by 1,258.8% during the 1st quarter. Citigroup Inc. now owns 2,774,536 shares of the company’s stock worth $41,063,000 after buying an additional 2,570,347 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Hesai Group by 29.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after buying an additional 584,468 shares during the last quarter. Aberdeen Group plc acquired a new stake in Hesai Group in the third quarter valued at about $38,241,000. Finally, Goldman Sachs Group Inc. grew its position in Hesai Group by 345.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after acquiring an additional 961,493 shares during the last quarter. 48.53% of the stock is owned by institutional investors.

Hesai Group Trading Down 4.7%

Shares of Hesai Group stock opened at $21.08 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.79 and a current ratio of 3.18. The firm has a 50-day moving average of $25.82 and a 200-day moving average of $22.45. Hesai Group has a 52-week low of $4.02 and a 52-week high of $30.85. The stock has a market cap of $2.76 billion, a PE ratio of 234.22 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The business had revenue of $98.61 million during the quarter, compared to analyst estimates of $846.98 million. As a group, sell-side analysts forecast that Hesai Group will post -0.14 EPS for the current year.

About Hesai Group

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.