Analysts Set Hesai Group Sponsored ADR (NASDAQ:HSAI) PT at $30.80

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have received an average rating of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $30.80.

HSAI has been the topic of a number of recent research reports. Macquarie Capit upgraded shares of Hesai Group to a “strong-buy” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. Sanford C. Bernstein raised Hesai Group to a “strong-buy” rating in a research report on Wednesday, November 12th. Finally, CICC Research started coverage on Hesai Group in a report on Tuesday, November 25th. They issued an “outperform” rating and a $23.50 target price on the stock.

Institutional Trading of Hesai Group

Several institutional investors have recently bought and sold shares of HSAI. Goldman Sachs Group Inc. raised its holdings in 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. Vontobel Holding Ltd. bought a new stake in shares of Hesai Group during the second quarter valued at approximately $699,000. Sovereign Financial Group Inc. raised its holdings in Hesai Group by 94.2% in the 2nd quarter. Sovereign Financial Group Inc. now owns 19,425 shares of the company’s stock worth $426,000 after acquiring an additional 9,424 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Hesai Group by 78.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock valued at $44,126,000 after acquiring an additional 882,180 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd boosted its stake in Hesai Group by 117.6% during the 2nd quarter. JTC Employer Solutions Trustee Ltd now owns 6,231 shares of the company’s stock valued at $137,000 after purchasing an additional 3,368 shares during the last quarter. 48.53% of the stock is owned by hedge funds and other institutional investors.

Hesai Group Trading Down 3.5%

NASDAQ HSAI opened at $25.09 on Tuesday. The firm has a market capitalization of $3.51 billion, a PE ratio of 59.74 and a beta of 1.14. The stock’s 50 day moving average is $24.41 and its 200 day moving average is $23.95. Hesai Group has a twelve month low of $10.41 and a twelve month high of $30.85. The company has a quick ratio of 5.37, a current ratio of 5.75 and a debt-to-equity ratio of 0.04.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.11 by $0.14. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%.The business had revenue of $111.72 million during the quarter, compared to analyst estimates of $116.11 million. Research analysts forecast that Hesai Group will post -0.14 earnings per share for the current fiscal year.

About Hesai Group

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.