Hesai Group (NASDAQ:HSAI) Shares Up 12.8% – Should You Buy?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) rose 12.8% on Tuesday . The stock traded as high as $20.27 and last traded at $20.56. Approximately 1,582,132 shares traded hands during trading, a decline of 45% from the average daily volume of 2,890,418 shares. The stock had previously closed at $18.22.

Wall Street Analyst Weigh In

A number of research firms have commented on HSAI. Jefferies Financial Group initiated coverage on Hesai Group in a research report on Monday, June 9th. They issued a “buy” rating and a $29.30 target price on the stock. Daiwa Capital Markets assumed coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Daiwa America raised Hesai Group to a “strong-buy” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $24.43.

Hesai Group Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.62 and a current ratio of 4.06. The stock has a market capitalization of $2.68 billion, a PE ratio of -681.67 and a beta of 1.06. The firm’s 50 day moving average is $17.79 and its two-hundred day moving average is $16.47.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Monday, May 26th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. Hesai Group had a positive return on equity of 1.00% and a negative net margin of 0.72%. The business had revenue of $72.39 million for the quarter, compared to analyst estimates of $532.16 million. As a group, research analysts predict that Hesai Group Sponsored ADR will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Hesai Group

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its holdings in Hesai Group by 138.6% during the first quarter. SBI Securities Co. Ltd. now owns 2,150 shares of the company’s stock worth $32,000 after purchasing an additional 1,249 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Hesai Group in the 1st quarter valued at $42,000. Russell Investments Group Ltd. acquired a new stake in Hesai Group during the 1st quarter worth $150,000. Renaissance Technologies LLC purchased a new stake in Hesai Group in the fourth quarter valued at $138,000. Finally, Sovereign Financial Group Inc. purchased a new position in shares of Hesai Group during the first quarter worth about $148,000. 48.53% of the stock is owned by hedge funds and other institutional investors.

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.