Hesai Group (NASDAQ:HSAI) Trading 8.5% Higher – Time to Buy?

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) rose 8.5% on Wednesday . The company traded as high as $23.06 and last traded at $23.20. Approximately 808,640 shares traded hands during trading, a decline of 59% from the average daily volume of 1,987,521 shares. The stock had previously closed at $21.39.

Analyst Ratings Changes

Several research firms recently issued reports on HSAI. Weiss Ratings lowered Hesai Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. BNP Paribas Exane assumed coverage on shares of Hesai Group in a research note on Thursday, March 26th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded Hesai Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $29.96.

Hesai Group Stock Performance

The firm’s fifty day moving average is $22.40 and its 200 day moving average is $23.11. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 59.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.73 and a quick ratio of 3.38.

Hesai Group (NASDAQ:HSAI) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $143.00 million for the quarter. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. On average, analysts predict that Hesai Group Sponsored ADR will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group boosted its position in shares of Hesai Group by 17,419.6% in the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after acquiring an additional 2,054,114 shares during the period. Aberdeen Group plc acquired a new stake in shares of Hesai Group in the third quarter worth $38,241,000. Federated Hermes Inc. increased its position in Hesai Group by 8,076.3% during the fourth quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock worth $28,311,000 after acquiring an additional 1,248,436 shares during the period. Norges Bank acquired a new position in Hesai Group during the 4th quarter valued at $24,260,000. Finally, Goldman Sachs Group Inc. raised its stake in Hesai Group by 345.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after purchasing an additional 961,493 shares during the last quarter. 48.53% of the stock is owned by institutional investors.

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.