Hesai Group (NASDAQ:HSAI) Shares Gap Up – Time to Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price gapped up prior to trading on Monday. The stock had previously closed at $12.18, but opened at $12.82. Hesai Group shares last traded at $12.7610, with a volume of 152,605 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HSAI. Weiss Ratings cut 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 Hesai Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Hesai Group presently has an average rating of “Buy” and a consensus target price of $23.50.

Hesai Group Stock Performance

The firm’s 50 day simple moving average is $15.84 and its 200 day simple moving average is $19.89. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.00 billion, a PE ratio of 31.10, a PEG ratio of 1.18 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Saturday, August 15th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. On average, research analysts forecast that Hesai Group Sponsored ADR will post 0.42 EPS for the current fiscal year.

Institutional Trading of Hesai Group

Several large investors have recently bought and sold shares of the business. Sapient Capital LLC acquired a new position in Hesai Group during the first quarter worth $13,574,000. C WorldWide Group Holding A S raised 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 buying an additional 9,385 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Hesai Group in the 1st quarter valued at about $11,185,000. Cvfg LLC purchased a new position in Hesai Group in the first quarter valued at approximately $3,574,000. Finally, Liontrust Investment Partners LLP grew its position in shares of Hesai Group by 21.0% in the 1st quarter. Liontrust Investment Partners LLP now owns 164,684 shares of the company’s stock valued at $3,149,000 after buying an additional 28,548 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.