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

Hesai Group Sponsored ADR (NASDAQ:HSAI) has been given a consensus rating of “Buy” by the nine analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $30.80.

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research report on Monday, November 24th. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. CICC Research assumed coverage on Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 price target for the company. UBS Group assumed coverage on Hesai Group in a research note on Tuesday, August 19th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Hesai Group from $26.30 to $36.00 and gave the company a “buy” rating in a research note on Monday, September 22nd.

Institutional Investors Weigh In On Hesai Group

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Hesai Group by 18.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,078,330 shares of the company’s stock valued at $114,601,000 after purchasing an additional 629,680 shares during the period. Citigroup Inc. lifted its stake in Hesai Group by 1,258.8% during the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company’s stock valued at $41,063,000 after buying an additional 2,570,347 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Hesai Group by 29.1% in the third quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock worth $72,912,000 after buying an additional 584,468 shares during the period. Wellington Management Group LLP increased its position in shares of Hesai Group by 5.6% in the third quarter. Wellington Management Group LLP now owns 1,850,232 shares of the company’s stock worth $51,992,000 after acquiring an additional 98,884 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Hesai Group by 108.4% in the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock worth $41,647,000 after acquiring an additional 770,816 shares in the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.

Hesai Group Stock Performance

Shares of HSAI stock opened at $19.24 on Thursday. 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 has a 12-month low of $7.10 and a 12-month high of $30.85. The business’s 50 day moving average is $23.11 and its two-hundred day moving average is $22.66. The company has a market capitalization of $2.52 billion, a P/E ratio of 45.81 and a beta of 1.12.

Hesai Group (NASDAQ:HSAI) last issued its quarterly earnings data on Tuesday, November 11th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.14. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The firm had revenue of $111.70 million for the quarter, compared to analyst estimates of $116.11 million. Analysts expect that Hesai Group will post -0.14 EPS for the current fiscal year.

About Hesai Group

Hesai Group, through with its subsidiaries, engages in the development, manufacture, and sale of three-dimensional light detection and ranging solutions (LiDAR). Its LiDAR products are used in passenger and commercial vehicles with advanced driver assistance systems; autonomous passenger and freight mobility services; and other applications, such as delivery robots, street sweeping robots, and logistics robots in restricted areas.