Hesai Group (NASDAQ:HSAI) Coverage Initiated at CICC Research

Research analysts at CICC Research began coverage on shares of Hesai Group (NASDAQ:HSAI) in a research report issued on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $23.50 price target on the stock. CICC Research’s price objective indicates a potential upside of 15.96% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Hesai Group in a research note on Monday. Morgan Stanley upgraded shares of Hesai Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $23.00 to $26.00 in a research note on Monday, July 28th. The Goldman Sachs Group upped their target price on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. UBS Group initiated coverage on shares of Hesai Group in a report on Tuesday, August 19th. They set a “buy” rating and a $35.00 price target for the company. Finally, Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Hesai Group currently has a consensus rating of “Buy” and an average target price of $30.80.

Hesai Group Trading Up 11.2%

HSAI stock traded up $2.05 during midday trading on Tuesday, reaching $20.27. 4,565,565 shares of the company’s stock traded hands, compared to its average volume of 3,931,966. 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 has a fifty-two week low of $5.11 and a fifty-two week high of $30.85. The business has a 50-day moving average price of $23.92 and a two-hundred day moving average price of $22.65. The company has a market capitalization of $2.66 billion, a P/E ratio of 48.08 and a beta of 1.13.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Tuesday, November 11th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The business had revenue of $111.70 million for the quarter, compared to the consensus estimate of $116.11 million. Equities research analysts forecast that Hesai Group will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

Hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. acquired a new position in Hesai Group in the second quarter valued at approximately $699,000. Acadian Asset Management LLC raised its holdings in shares of Hesai Group by 2,217.8% during the first quarter. Acadian Asset Management LLC now owns 112,276 shares of the company’s stock valued at $1,656,000 after buying an additional 107,432 shares during the last quarter. J. Safra Sarasin Holding AG acquired a new position in shares of Hesai Group during the first quarter valued at $1,925,000. Pinpoint Asset Management Ltd grew its position in Hesai Group by 22,312.2% in the 1st quarter. Pinpoint Asset Management Ltd now owns 97,493 shares of the company’s stock valued at $1,443,000 after buying an additional 97,058 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Hesai Group during the 1st quarter worth about $2,972,000. Institutional investors and hedge funds own 48.53% of the company’s stock.

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.