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

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been assigned an average recommendation of “Buy” from the four analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on 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. Wall Street Zen raised Hesai Group from a “strong sell” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th.

Hesai Group Trading Down 8.0%

NASDAQ HSAI opened at $12.14 on Friday. The company has a fifty day simple moving average of $16.43 and a two-hundred day simple moving average of $18.15. The stock has a market cap of $1.70 billion, a P/E ratio of 32.17, a P/E/G ratio of 0.67 and a beta of 1.36. Hesai Group has a 12-month low of $12.00 and a 12-month high of $29.35. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03.

Hesai Group (NASDAQ:HSAI) last released its earnings results on Saturday, August 15th. The company reported $0.01 earnings per share (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 analyst estimates of $126.00 million. On average, analysts forecast that Hesai Group will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Hesai Group

A number of institutional investors have recently bought and sold shares of HSAI. Athena Wealth Management LLC lifted its stake in Hesai Group by 55.4% during the 3rd quarter. Athena Wealth Management LLC now owns 28,470 shares of the company’s stock valued at $454,000 after acquiring an additional 10,152 shares during the period. C WorldWide Group Holding A S increased its stake in shares of 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 acquiring an additional 9,385 shares during the period. Squarepoint Ops LLC increased its stake in shares of Hesai Group by 13.7% in the second quarter. Squarepoint Ops LLC now owns 31,793 shares of the company’s stock worth $579,000 after acquiring an additional 3,822 shares during the period. B. Metzler seel. Sohn & Co. AG increased its stake in shares of Hesai Group by 15.7% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 85,878 shares of the company’s stock worth $1,565,000 after acquiring an additional 11,679 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Hesai Group during the second quarter worth $234,000. 48.53% of the stock is owned by hedge funds and other 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.