Hesai Group Sponsored ADR (NASDAQ:HSAI) Stock Has Average Price Target of $23.50 According to Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have earned an average rating of “Buy” from the four ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.50.

A number of brokerages have recently weighed in on HSAI. Weiss Ratings raised shares of Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th.

Hesai Group Price Performance

Shares of Hesai Group stock opened at $16.25 on Wednesday. The business has a 50 day moving average of $17.30 and a 200 day moving average of $19.18. Hesai Group has a 52 week low of $14.29 and a 52 week high of $29.35. The company has a market cap of $2.27 billion, a PE ratio of 39.64, a P/E/G ratio of 0.72 and a beta of 1.36. The company has a quick ratio of 4.86, a current ratio of 5.37 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings results on Saturday, August 15th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. As a group, equities research analysts forecast that Hesai Group will post 0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sapient Capital LLC purchased a new position in Hesai Group during the first quarter valued at $13,574,000. Weiss Asset Management LP bought a new position in shares of Hesai Group in the 1st quarter worth about $1,658,000. First Trust Bank Ltd. bought a new position in shares of Hesai Group in the 2nd quarter worth about $1,650,641. Empowered Funds LLC purchased a new position in Hesai Group during the 1st quarter valued at about $11,185,000. Finally, Long Corridor Asset Management Ltd boosted its stake in Hesai Group by 270.0% during the fourth quarter. Long Corridor Asset Management Ltd now owns 370,000 shares of the company’s stock worth $8,288,000 after acquiring an additional 270,000 shares in 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 lidar technology company that develops three-dimensional sensing solutions for automotive and non-automotive applications. Its products use laser-based detection to measure the surrounding environment, helping vehicles and machines identify objects, assess distances and support navigation, perception and safety functions.

The company offers lidar sensors for autonomous driving and advanced driver-assistance systems, including solutions designed for passenger vehicles, robotaxis, delivery vehicles and other commercial applications.