Hesai Group (NASDAQ:HSAI) Shares Gap Up – Here’s Why

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $15.76, but opened at $16.97. Hesai Group shares last traded at $17.5150, with a volume of 1,039,649 shares trading hands.

Wall Street Analyst Weigh In

HSAI has been the subject of a number of research analyst reports. BNP Paribas Exane started coverage on Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating for the company. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. Finally, Wall Street Zen lowered Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Hesai Group has an average rating of “Buy” and a consensus price target of $30.12.

Hesai Group Stock Up 16.4%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.52 and a current ratio of 4.97. The company has a fifty day simple moving average of $20.02 and a two-hundred day simple moving average of $22.75. The firm has a market capitalization of $2.57 billion, a PE ratio of 41.70, a PEG ratio of 0.57 and a beta of 1.34.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The firm had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Analysts forecast that Hesai Group Sponsored ADR will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several hedge funds have recently modified their holdings of the business. Bessemer Group Inc. boosted its stake in shares of Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after purchasing an additional 725 shares in the last quarter. Legal & General Group Plc bought a new position in Hesai Group in the third quarter worth approximately $71,000. Blue Trust Inc. bought a new position in Hesai Group in the first quarter worth approximately $51,000. SBI Securities Co. Ltd. lifted its holdings in Hesai Group by 37.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after buying an additional 746 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Hesai Group during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.