Hesai Group (NASDAQ:HSAI) Rating Increased to Strong-Buy at Macquarie Capit

Hesai Group (NASDAQ:HSAI) was upgraded by Macquarie Capit to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on HSAI. Sanford C. Bernstein upgraded Hesai Group to a “strong-buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th. Finally, CICC Research assumed coverage on shares of Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $30.80.

Hesai Group Trading Down 5.9%

Shares of Hesai Group stock opened at $25.99 on Tuesday. The firm’s 50 day simple moving average is $24.31 and its two-hundred day simple moving average is $23.94. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 61.88 and a beta of 1.14. Hesai Group has a 12-month low of $10.41 and a 12-month high of $30.85. The company has a current ratio of 5.75, a quick ratio of 5.37 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. Hesai Group had a net margin of 15.70% and a return on equity of 8.04%. The firm had revenue of $111.72 million for the quarter, compared to analyst estimates of $116.11 million. Analysts predict that Hesai Group will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Several institutional investors and hedge funds have recently modified their holdings of HSAI. Bessemer Group Inc. purchased a new position in Hesai Group during the second quarter worth approximately $33,000. SBI Securities Co. Ltd. grew its stake in Hesai Group by 37.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after acquiring an additional 746 shares during the period. Legal & General Group Plc acquired a new position in Hesai Group during the third quarter worth $71,000. Eurizon Capital SGR S.p.A. purchased a new position in Hesai Group during the fourth quarter valued at $88,000. Finally, Leonteq Securities AG acquired a new stake in shares of Hesai Group in the fourth quarter valued at about $106,000. Hedge funds and other institutional investors own 48.53% of the company’s stock.

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.