Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Average Rating of “Buy” from Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been given an average rating of “Buy” by the five brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $29.75.

HSAI has been the subject of a number of research analyst reports. Weiss Ratings raised Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Wall Street Zen lowered Hesai Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. boosted its stake in shares of Hesai Group by 45.3% in the 1st 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 position in Hesai Group during the 1st quarter worth approximately $51,000. Summit Securities Group LLC acquired a new position in Hesai Group during the 1st quarter worth approximately $56,000. SBI Securities Co. Ltd. lifted its stake in 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 bought a new position in Hesai Group in the 3rd quarter valued at approximately $71,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Trading Up 2.3%

HSAI opened at $18.89 on Friday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 0.81 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 has a twelve month low of $14.29 and a twelve month high of $30.85. The company has a 50-day simple moving average of $17.07 and a 200 day simple moving average of $20.16.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The firm had revenue of $126.70 million during the quarter, compared to the consensus estimate of $126.00 million. Analysts predict that Hesai Group will post 0.61 EPS for the current fiscal year.

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.