Jefferies Financial Group Initiates Coverage on Hesai Group (NASDAQ:HSAI)

Jefferies Financial Group began coverage on shares of Hesai Group (NASDAQ:HSAI) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $29.30 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 46.50% from the stock’s current price.

HSAI has been the subject of a number of other reports. Daiwa America upgraded Hesai Group to a “strong-buy” rating in a report on Tuesday, March 11th. Daiwa Capital Markets started coverage on shares of Hesai Group in a research report on Tuesday, March 11th. They issued a “buy” rating and a $35.00 target price for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Hesai Group presently has a consensus rating of “Buy” and a consensus target price of $24.43.

Hesai Group Trading Up 2.1%

NASDAQ:HSAI opened at $20.00 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.65. The stock has a market capitalization of $2.62 billion, a PE ratio of -45.45, a price-to-earnings-growth ratio of 1.44 and a beta of 1.06. The business’s 50-day simple moving average is $16.66 and its 200-day simple moving average is $15.58. Hesai Group has a fifty-two week low of $3.52 and a fifty-two week high of $24.18.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Monday, May 26th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.11. The business had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $532.16 million. Hesai Group had a negative net margin of 20.31% and a negative return on equity of 6.79%. Sell-side analysts expect that Hesai Group will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hesai Group

A number of institutional investors have recently added to or reduced their stakes in the company. Lightspeed Management Company L.L.C. acquired a new position in shares of Hesai Group during the 4th quarter worth about $110,560,000. Robert Bosch GmbH bought a new position in Hesai Group during the fourth quarter worth about $105,768,000. Citigroup Inc. increased its position in Hesai Group by 1,258.8% during the first quarter. Citigroup Inc. now owns 2,774,536 shares of the company’s stock worth $41,063,000 after buying an additional 2,570,347 shares during the last quarter. Vanguard Group Inc. bought a new stake in Hesai Group in the 1st quarter valued at $25,997,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Hesai Group during the 1st quarter worth about $16,696,000. 48.53% of the stock is currently owned by institutional investors and hedge funds.

Hesai Group Company Profile

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.