Hesai Group Sponsored ADR (NASDAQ:HSAI) Stock Has Consensus Target Price of $23.50

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

HSAI has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of Hesai Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd.

Hesai Group Trading Down 7.0%

NASDAQ HSAI opened at $12.42 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.37 and a quick ratio of 4.86. The stock has a market capitalization of $1.74 billion, a P/E ratio of 30.29, a PEG ratio of 0.63 and a beta of 1.36. The firm’s 50-day moving average is $16.91 and its two-hundred day moving average is $18.35. Hesai Group has a 12 month low of $12.36 and a 12 month high of $29.35.

Hesai Group (NASDAQ:HSAI) last announced its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. The company had revenue of $126.70 million for the quarter, compared to analysts’ expectations of $126.00 million. On average, sell-side analysts anticipate that Hesai Group will post 0.52 earnings per share for the current year.

Institutional Trading of Hesai Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Broad Peak Investment Advisers Pte Ltd acquired a new position in Hesai Group during the first quarter worth $16,539,000. Sapient Capital LLC purchased a new position in shares of Hesai Group during the first quarter worth $13,574,000. C WorldWide Group Holding A S boosted its position in shares of Hesai Group by 1.4% during the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock worth $12,382,000 after buying an additional 9,385 shares during the period. Empowered Funds LLC acquired a new stake in shares of Hesai Group in the first quarter valued at $11,185,000. Finally, Cvfg LLC acquired a new stake in shares of Hesai Group in the first quarter valued at $3,574,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

About Hesai Group

Hesai Group is a lidar technology company that develops, manufactures and sells three-dimensional sensing products for automotive and robotic applications. Its lidar systems use laser-based sensing to help vehicles and machines detect and understand their surroundings, supporting functions such as advanced driver-assistance systems, autonomous driving and navigation.

The company’s product portfolio includes long-, medium- and short-range lidar sensors, as well as related software and perception solutions.