Hesai Group (NASDAQ:HSAI) Shares Up 10.1% – Still a Buy?

Hesai Group Sponsored ADR (NASDAQ:HSAI) shares traded up 10.1% during mid-day trading on Friday. The stock traded as high as $14.40 and last traded at $14.1340. 693,741 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 1,838,172 shares. The stock had previously closed at $12.84.

Analyst Upgrades and Downgrades

HSAI has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Hesai Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Weiss Ratings downgraded shares of Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and an average price target of $23.50.

Hesai Group Price Performance

The company has a market cap of $2.22 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 1.73 and a beta of 1.47. The company has a fifty day simple moving average of $15.39 and a two-hundred day simple moving average of $19.59. 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 (NASDAQ:HSAI) last released its quarterly 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). The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. Hesai Group had a return on equity of 5.52% and a net margin of 14.77%. On average, equities research analysts anticipate that Hesai Group Sponsored ADR will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hesai Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sapient Capital LLC acquired a new position in shares of Hesai Group in the first quarter valued at approximately $13,574,000. Weiss Asset Management LP purchased a new position in shares of Hesai Group during the first quarter valued at approximately $1,658,000. First Trust Bank Ltd. purchased a new position in shares of Hesai Group during the second quarter valued at approximately $1,650,641. Empowered Funds LLC acquired a new stake in Hesai Group during the first quarter worth approximately $11,185,000. Finally, Aristides Capital LLC boosted its position in Hesai Group by 27.9% during the first quarter. Aristides Capital LLC now owns 162,466 shares of the company’s stock worth $3,106,000 after acquiring an additional 35,442 shares during the last quarter. Hedge funds and other institutional investors own 48.53% of the company’s stock.

Hesai Group Company Profile

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.