Hesai Group (NASDAQ:HSAI) Trading 8.5% Higher – What’s Next?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares traded up 8.5% on Wednesday . The company traded as high as $23.06 and last traded at $23.20. 808,640 shares were traded during mid-day trading, a decline of 59% from the average session volume of 1,987,521 shares. The stock had previously closed at $21.39.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. BNP Paribas Exane assumed coverage on Hesai Group in a research note on Thursday, March 26th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings cut Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $29.96.

Hesai Group Stock Up 13.0%

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.73 and a quick ratio of 3.38. The company has a market cap of $3.38 billion, a P/E ratio of 60.29 and a beta of 1.50. The stock has a 50-day moving average of $22.49 and a 200 day moving average of $23.09.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.16 EPS for the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%.The company had revenue of $143.00 million for the quarter. Research analysts anticipate that Hesai Group Sponsored ADR will post 0.65 earnings per share for the current year.

Institutional Trading of Hesai Group

Several large investors have recently bought and sold shares of HSAI. Bessemer Group Inc. boosted its stake in Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after buying an additional 725 shares in the last quarter. Blue Trust Inc. acquired a new stake in Hesai Group in the first quarter valued at about $51,000. Summit Securities Group LLC acquired a new stake in Hesai Group in the first quarter valued at about $56,000. SBI Securities Co. Ltd. boosted its stake in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after buying an additional 746 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Hesai Group in the third quarter valued at about $71,000. 48.53% of the stock is owned by institutional investors and hedge funds.

Hesai Group Company Profile

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.