Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives $32.26 Consensus Price Target from Analysts

Hesai Group Sponsored ADR (NASDAQ:HSAI) has received an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $32.26.

Several equities analysts have recently weighed in on HSAI shares. The Goldman Sachs Group upped their price objective on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Morgan Stanley raised Hesai Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $26.00 in a research note on Monday, July 28th. UBS Group initiated coverage on Hesai Group in a research note on Tuesday, August 19th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Hesai Group in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its stake in Hesai Group by 138.6% in the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after acquiring an additional 1,249 shares during the period. Bessemer Group Inc. bought a new position in shares of Hesai Group in the second quarter valued at approximately $33,000. Daiwa Securities Group Inc. bought a new position in shares of Hesai Group in the second quarter valued at approximately $108,000. JTC Employer Solutions Trustee Ltd lifted its holdings in shares of Hesai Group by 117.6% in the second quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock valued at $137,000 after purchasing an additional 3,368 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Hesai Group in the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Trading Down 4.6%

NASDAQ HSAI opened at $22.42 on Friday. The business has a 50 day simple moving average of $26.08 and a 200 day simple moving average of $22.32. Hesai Group has a one year low of $4.02 and a one year high of $30.85. The stock has a market capitalization of $2.94 billion, a P/E ratio of 249.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.18 and a quick ratio of 2.79.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.72). Hesai Group had a net margin of 4.00% and a return on equity of 3.11%. The company had revenue of $98.61 million for the quarter, compared to analyst estimates of $846.98 million. Research analysts expect that Hesai Group will post -0.14 earnings per share for the current year.

About Hesai Group

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.