Brokerages Set Hesai Group Sponsored ADR (NASDAQ:HSAI) Target Price at $30.80

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $30.80.

A number of analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, December 29th. CICC Research assumed coverage on shares of Hesai Group in a research report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target for the company. Sanford C. Bernstein raised shares of Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Finally, The Goldman Sachs Group boosted their price target on Hesai Group from $26.30 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. acquired a new position in Hesai Group during the 2nd quarter worth about $699,000. Allianz Asset Management GmbH boosted its position in Hesai Group by 78.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock valued at $44,126,000 after buying an additional 882,180 shares during the period. SG Americas Securities LLC boosted its position in Hesai Group by 696.6% in the 3rd quarter. SG Americas Securities LLC now owns 186,755 shares of the company’s stock valued at $5,248,000 after buying an additional 163,310 shares during the period. Trivest Advisors Ltd acquired a new position in shares of Hesai Group in the second quarter worth $17,769,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Hesai Group during the 2nd quarter worth $1,500,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Trading Down 0.2%

Hesai Group stock opened at $28.55 on Friday. The firm has a market cap of $3.74 billion, a PE ratio of 67.98 and a beta of 1.14. Hesai Group has a 12 month low of $10.41 and a 12 month high of $30.85. The stock’s 50 day simple moving average is $21.77 and its two-hundred day simple moving average is $23.46. The company has a current ratio of 5.75, a quick ratio of 5.37 and a debt-to-equity ratio of 0.04.

Hesai Group (NASDAQ:HSAI) last posted its earnings results on Wednesday, November 12th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%.The firm had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $116.11 million. Analysts anticipate that Hesai Group will post -0.14 earnings per share for the current 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.