Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Consensus Recommendation of “Buy” by Brokerages

Hesai Group Sponsored ADR (NASDAQ:HSAI) has received a consensus rating of “Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $29.75.

HSAI has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday. Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th.

Institutional Trading of Hesai Group

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 961,493 shares during the last quarter. Federated Hermes Inc. bought a new stake in Hesai Group during the 2nd quarter worth about $156,000. Daiwa Securities Group Inc. bought a new stake in Hesai Group during the 2nd quarter worth about $108,000. Qube Research & Technologies Ltd acquired a new stake in Hesai Group in the 2nd quarter valued at about $368,000. Finally, The Manufacturers Life Insurance Company increased its position in Hesai Group by 24.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company’s stock valued at $25,277,000 after acquiring an additional 224,381 shares in the last quarter. Institutional investors own 48.53% of the company’s stock.

Hesai Group Trading Down 1.1%

Shares of Hesai Group stock opened at $16.59 on Friday. Hesai Group has a 52-week low of $14.29 and a 52-week high of $30.85. The firm has a market capitalization of $2.32 billion, a PE ratio of 40.46, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. The company’s fifty day moving average price is $16.92 and its two-hundred day moving average price is $20.22.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. On average, analysts expect that Hesai Group will post 0.61 EPS for the current year.

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.