Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Average Recommendation of “Buy” from Brokerages

Hesai Group Sponsored ADR (NASDAQ:HSAI) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $31.50.

Several equities research analysts recently weighed in on HSAI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hesai Group in a research report on Friday, July 24th. Wall Street Zen raised shares of Hesai Group from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

Institutional Investors Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently made changes to their positions in HSAI. Schroder Investment Management Group lifted its holdings in shares of Hesai Group by 17,419.6% during the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock worth $46,276,000 after purchasing an additional 2,054,114 shares during the period. Federated Hermes Inc. increased its holdings in Hesai Group by 8,076.3% in the fourth quarter. Federated Hermes Inc. now owns 1,263,894 shares of the company’s stock valued at $28,311,000 after purchasing an additional 1,248,436 shares during the period. Norges Bank bought a new position in Hesai Group during the 4th quarter worth $24,260,000. Goldman Sachs Group Inc. raised its position 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 worth $18,346,000 after purchasing an additional 961,493 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Hesai Group by 124.6% during the 4th quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock worth $36,397,000 after buying an additional 901,370 shares during the period. 48.53% of the stock is owned by institutional investors.

Hesai Group Stock Performance

HSAI opened at $19.22 on Tuesday. The business has a fifty day simple moving average of $17.00 and a 200 day simple moving average of $21.26. The company has a market capitalization of $2.69 billion, a PE ratio of 43.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.37. Hesai Group has a 1 year low of $14.29 and a 1 year high of $30.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.97 and a quick ratio of 4.52.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $96.50 million. Research analysts expect that Hesai Group will post 0.66 EPS for the current year.

Hesai Group Company Profile

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.