Hesai Group (NASDAQ:HSAI) Trading 8.5% Higher – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price traded up 8.5% on Tuesday . The stock traded as high as $18.99 and last traded at $19.23. 505,021 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,158,001 shares. The stock had previously closed at $17.73.

Analysts Set New Price Targets

A number of research analysts have issued reports on HSAI shares. BNP Paribas Exane began coverage on Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $29.96.

Hesai Group Price Performance

The firm’s fifty day simple moving average is $25.00 and its 200-day simple moving average is $24.05. The firm has a market capitalization of $2.69 billion, a PE ratio of 48.19 and a beta of 1.06. The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings results on Tuesday, March 24th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The firm had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $155.57 million. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. On average, research analysts forecast that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently bought and sold shares of HSAI. Goldman Sachs Group Inc. lifted its stake in Hesai Group by 345.7% during the 1st 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 period. Franklin Resources Inc. grew its stake in shares of Hesai Group by 4.2% in the second quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after acquiring an additional 782 shares during the period. Norges Bank bought a new stake in shares of Hesai Group in the second quarter worth approximately $20,619,000. M&T Bank Corp purchased a new position in shares of Hesai Group during the second quarter valued at approximately $775,000. Finally, Marshall Wace LLP bought a new position in Hesai Group during the second quarter valued at approximately $12,616,000. 48.53% of the stock is currently owned by institutional investors.

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.