Hesai Group (NASDAQ:HSAI) Stock Price Up 7.6% – Still a Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI) was up 7.6% on Thursday . The company traded as high as $19.17 and last traded at $19.1220. 574,132 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,927,885 shares. The stock had previously closed at $17.77.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Hesai Group from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hesai Group in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.75.

Hesai Group Price Performance

The company has a quick ratio of 4.52, a current ratio of 4.97 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 45.10, a P/E/G ratio of 0.70 and a beta of 1.37. The business’s 50 day simple moving average is $16.83 and its 200-day simple moving average is $20.74.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Tuesday, August 18th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.07). Hesai Group had a net margin of 14.77% and a return on equity of 5.58%. The firm had revenue of $126.70 million during the quarter, compared to analyst estimates of $126.00 million. On average, research analysts forecast that Hesai Group Sponsored ADR will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Hesai Group by 45.3% during the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after purchasing an additional 725 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of Hesai Group in the 1st quarter valued at $51,000. Summit Securities Group LLC bought a new position in shares of Hesai Group in the 1st quarter valued at $56,000. SBI Securities Co. Ltd. increased its stake in shares of Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after purchasing an additional 746 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Hesai Group during the 3rd quarter worth $71,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.