Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Average Recommendation of “Buy” from Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $30.1250.

Several equities analysts have recently weighed in on HSAI shares. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, BNP Paribas Exane began coverage on shares of Hesai Group in a report on Thursday, March 26th. They issued an “outperform” rating for the company.

Hedge Funds Weigh In On Hesai Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Hesai Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock valued at $91,984,000 after buying an additional 28,102 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock worth $46,276,000 after acquiring an additional 2,054,114 shares during the period. Wellington Management Group LLP boosted its position in shares of Hesai Group by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock valued at $42,303,000 after acquiring an additional 38,312 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Hesai Group by 124.6% during the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after acquiring an additional 901,370 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Hesai Group by 108.4% in the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock valued at $41,647,000 after purchasing an additional 770,816 shares during the period. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

Shares of HSAI opened at $16.89 on Monday. The stock has a 50 day moving average price of $20.93 and a 200 day moving average price of $22.93. Hesai Group has a one year low of $14.69 and a one year high of $30.85. 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 stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 0.65 and a beta of 1.34.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The company had revenue of $98.71 million for the quarter, compared to analyst estimates of $96.50 million. Equities research analysts forecast that Hesai Group will post 0.66 earnings per share for the current fiscal year.

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.