Hesai Group Sponsored ADR (NASDAQ:HSAI – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $18.07, but opened at $15.77. Hesai Group shares last traded at $17.43, with a volume of 1,037,503 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on HSAI shares. Wall Street Zen upgraded shares of Hesai Group from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hesai Group in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Hesai Group has an average rating of “Buy” and a consensus price target of $31.50.
Get Our Latest Stock Report on HSAI
Hesai Group Stock Performance
Hesai Group (NASDAQ:HSAI – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. The business had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. As a group, equities research analysts expect that Hesai Group Sponsored ADR will post 0.62 EPS for the current fiscal year.
Institutional Trading of Hesai Group
Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of Hesai Group by 345.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock worth $18,346,000 after buying an additional 961,493 shares during the last quarter. Federated Hermes Inc. bought a new position in Hesai Group during the 2nd quarter valued at $156,000. Daiwa Securities Group Inc. bought a new position in Hesai Group during the 2nd quarter valued at $108,000. Qube Research & Technologies Ltd acquired a new position in Hesai Group during the 2nd quarter worth $368,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Hesai Group by 24.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company’s stock worth $25,277,000 after acquiring an additional 224,381 shares in the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.
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.
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