Hesai Group (NASDAQ:HSAI) Stock Jumps 7.1% – Should You Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI)’s share price was up 7.1% during mid-day trading on Monday. The company traded as high as $13.30 and last traded at $13.3050. Approximately 1,176,943 shares were traded during mid-day trading, a decline of 35% from the average session volume of 1,807,255 shares. The stock had previously closed at $12.42.

Analyst Ratings Changes

Several brokerages recently commented on HSAI. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $23.50.

Hesai Group Trading Up 8.3%

The firm has a 50 day simple moving average of $16.69 and a 200 day simple moving average of $18.27. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.96 billion, a PE ratio of 34.12, a P/E/G ratio of 0.66 and a beta of 1.36.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Saturday, August 15th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. Equities analysts expect that Hesai Group Sponsored ADR will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Several large investors have recently bought and sold shares of the business. Broad Peak Investment Advisers Pte Ltd purchased a new position in shares of Hesai Group during the first quarter valued at approximately $16,539,000. Sapient Capital LLC bought a new position in Hesai Group during the first quarter valued at approximately $13,574,000. C WorldWide Group Holding A S boosted its holdings in Hesai Group by 1.4% in the second quarter. C WorldWide Group Holding A S now owns 679,558 shares of the company’s stock worth $12,382,000 after purchasing an additional 9,385 shares during the last quarter. Empowered Funds LLC purchased a new stake in Hesai Group in the first quarter worth approximately $11,185,000. Finally, Cvfg LLC bought a new stake in Hesai Group in the 1st quarter worth approximately $3,574,000. 48.53% of the stock is currently owned by institutional investors.

About Hesai Group

Hesai Group is a global developer and manufacturer of lidar, or light detection and ranging, technology. Its sensors use laser signals to measure the surrounding environment and generate detailed three-dimensional data for applications that require perception, navigation, and obstacle detection.

The company’s products are designed primarily for advanced driver-assistance systems and autonomous driving, including passenger vehicles, commercial vehicles, and robotaxi fleets. Hesai also provides lidar solutions for robotics, last-mile delivery, industrial applications, and other forms of autonomous mobility.