Hesai Group (NASDAQ:HSAI) Shares Up 8.5% – Here’s Why

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) shot up 8.5% during trading on Tuesday . The stock traded as high as $18.99 and last traded at $19.23. 505,021 shares traded hands during trading, a decline of 77% from the average session volume of 2,158,001 shares. The stock had previously closed at $17.73.

Analysts Set New Price Targets

Several research analysts have issued reports on HSAI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. BNP Paribas Exane assumed coverage on shares of Hesai Group in a research report on Thursday, March 26th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and a consensus price target of $29.96.

Hesai Group Stock Performance

The company has a quick ratio of 3.38, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.87 billion, a P/E ratio of 51.25 and a beta of 1.46. The business has a fifty day moving average price of $24.66 and a 200-day moving average price of $23.96.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.16 EPS for the quarter. The company had revenue of $143.00 million during the quarter. Hesai Group had a return on equity of 6.63% and a net margin of 14.47%. On average, sell-side analysts expect that Hesai Group Sponsored ADR will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HSAI. Vanguard Group Inc. boosted its holdings in Hesai Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after purchasing an additional 28,102 shares during the last quarter. Allianz Asset Management GmbH raised its stake in Hesai Group by 29.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,594,744 shares of the company’s stock valued at $72,912,000 after buying an additional 584,468 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Hesai Group by 17,419.6% during the 4th quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after buying an additional 2,054,114 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Hesai Group by 2.1% during the 4th quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock valued at $42,303,000 after buying an additional 38,312 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Hesai Group by 124.6% in the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock worth $36,397,000 after buying an additional 901,370 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Company Profile

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.