Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI – Get Free Report) gapped up before the market opened on Monday. The stock had previously closed at $13.13, but opened at $13.74. Hesai Group shares last traded at $13.61, with a volume of 379,858 shares changing hands.
Analyst Ratings Changes
Several equities analysts recently weighed in on HSAI shares. Wall Street Zen raised Hesai Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.50.
Check Out Our Latest Stock Analysis on Hesai Group
Hesai Group Price Performance
The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.86 and a current ratio of 5.37. The stock has a market capitalization of $2.19 billion, a PE ratio of 33.89, a P/E/G ratio of 1.20 and a beta of 1.36. The company’s fifty day simple moving average is $16.33 and its two-hundred day simple moving average is $18.10.
Hesai Group (NASDAQ:HSAI – Get Free Report) last announced 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 business had revenue of $126.70 million during the quarter, compared to analysts’ expectations of $126.00 million. Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. As a group, sell-side analysts predict that Hesai Group Sponsored ADR will post 0.45 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in HSAI. Broad Peak Investment Advisers Pte Ltd acquired a new position in Hesai Group in the 1st quarter valued at approximately $16,539,000. Sapient Capital LLC purchased a new stake in Hesai Group in the 1st quarter worth approximately $13,574,000. Empowered Funds LLC acquired a new stake in shares of Hesai Group during the 1st quarter valued at $11,185,000. Cvfg LLC acquired a new stake in shares of Hesai Group during the 1st quarter valued at $3,574,000. Finally, First Trust Bank Ltd. purchased a new position in shares of Hesai Group during the 2nd quarter valued at $1,650,641. Institutional investors and hedge funds own 48.53% of the company’s stock.
About Hesai Group
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.
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