Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Consensus Recommendation of “Buy” by Brokerages

Hesai Group Sponsored ADR (NASDAQ:HSAI – Get Free Report) has received an average recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.1250.

Several analysts recently weighed in on the company. BNP Paribas Exane started coverage on Hesai Group in a research report on Thursday, March 26th. They set an “outperform” rating for the company. Weiss Ratings downgraded Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised shares of Hesai Group from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

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Hedge Funds Weigh In On Hesai Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in shares of Hesai Group by 345.7% during 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. acquired a new stake in shares of Hesai Group during the 2nd quarter valued at $156,000. Daiwa Securities Group Inc. bought a new stake in Hesai Group during the 2nd quarter worth $108,000. Qube Research & Technologies Ltd acquired a new position in Hesai Group in the 2nd quarter worth about $368,000. Finally, The Manufacturers Life Insurance Company raised its position in Hesai Group by 24.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,151,586 shares of the company’s stock valued at $25,277,000 after purchasing an additional 224,381 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Down 1.3%

Shares of HSAI opened at $15.65 on Friday. Hesai Group has a one year low of $14.40 and a one year high of $30.85. The company has a market cap of $2.19 billion, a P/E ratio of 35.57, a P/E/G ratio of 0.61 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52. The firm has a 50 day simple moving average of $18.57 and a two-hundred day simple moving average of $22.27.

Hesai Group (NASDAQ:HSAI – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Hesai Group had a return on equity of 6.03% and a net margin of 14.75%.The firm had revenue of $98.71 million for the quarter, compared to the consensus estimate of $96.50 million. Research analysts forecast that Hesai Group will post 0.66 EPS for the current fiscal year.

Hesai Group Company Profile

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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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