Hesai Group Sponsored ADR (NASDAQ:HSAI) Stock Rated “Buy” by Sell-Side Brokerages

Hesai Group Sponsored ADR (NASDAQ:HSAI) has been assigned an average recommendation of “Buy” from the four research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.50.

Several research analysts have recently weighed in on the company. Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered Hesai Group from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 30th.

Hesai Group Stock Down 0.4%

Shares of HSAI stock opened at $15.52 on Wednesday. The firm has a fifty day moving average of $17.31 and a 200-day moving average of $19.00. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03. Hesai Group has a 12-month low of $14.29 and a 12-month high of $29.35. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 0.68 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Saturday, August 15th. The company reported $0.01 EPS 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%. As a group, equities research analysts predict that Hesai Group will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of Hesai Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Hesai Group during the fourth quarter worth about $24,260,000. Broad Peak Investment Advisers Pte Ltd bought a new stake in Hesai Group during the first quarter worth $16,539,000. Sapient Capital LLC bought a new stake in Hesai Group during the first quarter worth $13,574,000. C WorldWide Group Holding A S lifted its stake in Hesai Group by 1.4% in the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock valued at $12,382,000 after acquiring an additional 9,385 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Hesai Group in the 1st quarter valued at about $11,185,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

About Hesai Group

Hesai Group is a lidar technology company that develops three-dimensional sensing solutions for automotive and non-automotive applications. Its products use laser-based detection to measure the surrounding environment, helping vehicles and machines identify objects, assess distances and support navigation, perception and safety functions.

The company offers lidar sensors for autonomous driving and advanced driver-assistance systems, including solutions designed for passenger vehicles, robotaxis, delivery vehicles and other commercial applications.