Hesai Group (NASDAQ:HSAI) Trading 10.5% Higher – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s stock price rose 10.5% during mid-day trading on Monday . The stock traded as high as $22.98 and last traded at $23.3010. Approximately 849,111 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 3,889,518 shares. The stock had previously closed at $21.08.

Wall Street Analyst Weigh In

A number of brokerages have commented on HSAI. The Goldman Sachs Group raised their price target on shares of Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Morgan Stanley upgraded Hesai Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $26.00 in a research report on Monday, July 28th. UBS Group assumed coverage on Hesai Group in a research report 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $32.26.

Hesai Group Price Performance

The company has a current ratio of 3.18, a quick ratio of 2.79 and a debt-to-equity ratio of 0.06. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 255.44 and a beta of 1.13. The company has a 50 day moving average of $25.82 and a 200 day moving average of $22.51.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Thursday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.72). Hesai Group had a return on equity of 3.11% and a net margin of 4.00%.The business had revenue of $98.61 million for the quarter, compared to the consensus estimate of $846.98 million. Equities research analysts predict that Hesai Group Sponsored ADR will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

A number of institutional investors have recently added to or reduced their stakes in HSAI. SBI Securities Co. Ltd. lifted its stake in Hesai Group by 138.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock valued at $32,000 after purchasing an additional 1,249 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Hesai Group in the 1st quarter valued at about $16,696,000. Navellier & Associates Inc. acquired a new position in shares of Hesai Group during the 1st quarter worth approximately $940,000. J. Safra Sarasin Holding AG acquired a new position in shares of Hesai Group during the 1st quarter worth approximately $1,925,000. Finally, Vanguard Group Inc. bought a new position in shares of Hesai Group during the first quarter worth approximately $25,997,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

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.