Hesai Group (NASDAQ:HSAI) Coverage Initiated by Analysts at BNP Paribas Exane

Investment analysts at BNP Paribas Exane started coverage on shares of Hesai Group (NASDAQ:HSAI) in a research report issued on Thursday. The firm set an “outperform” rating on the stock.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hesai Group has a consensus rating of “Buy” and an average price target of $29.96.

Hesai Group Price Performance

Shares of HSAI stock opened at $19.30 on Thursday. The firm has a fifty day moving average of $25.61 and a two-hundred day moving average of $24.29. The firm has a market cap of $2.70 billion, a P/E ratio of 48.24 and a beta of 1.06. Hesai Group has a 1-year low of $10.41 and a 1-year high of $30.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Tuesday, March 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The company had revenue of $143.00 million during the quarter, compared to analyst estimates of $155.57 million. Hesai Group had a net margin of 14.47% and a return on equity of 7.58%. As a group, research analysts anticipate that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of Hesai Group by 345.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after acquiring an additional 961,493 shares during the period. SG Americas Securities LLC boosted its stake in Hesai Group by 2.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,445 shares of the company’s stock valued at $515,000 after purchasing an additional 631 shares during the period. Franklin Resources Inc. grew its position in Hesai Group by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 19,548 shares of the company’s stock worth $429,000 after purchasing an additional 782 shares during the last quarter. Aristides Capital LLC acquired a new stake in shares of Hesai Group in the second quarter valued at approximately $876,000. Finally, MY.Alpha Management HK Advisors Ltd increased its stake in shares of Hesai Group by 83.3% in the second quarter. MY.Alpha Management HK Advisors Ltd now owns 427,495 shares of the company’s stock valued at $9,384,000 after purchasing an additional 194,248 shares during the period. Institutional investors own 48.53% of the company’s stock.

About Hesai Group

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.