Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives $30.80 Consensus Target Price from Brokerages

Hesai Group Sponsored ADR (NASDAQ:HSAI) has received an average rating of “Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.80.

Several brokerages have recently weighed in on HSAI. CICC Research assumed coverage on Hesai Group in a report on Tuesday, November 25th. They set an “outperform” rating and a $23.50 price target for the company. Sanford C. Bernstein upgraded shares of Hesai Group to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hesai Group in a report on Monday, December 29th.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Group plc purchased a new position in shares of Hesai Group in the 3rd quarter worth $38,241,000. Goldman Sachs Group Inc. increased its holdings in Hesai Group by 345.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,625 shares of the company’s stock valued at $18,346,000 after buying an additional 961,493 shares during the last quarter. Norges Bank bought a new position in Hesai Group in the second quarter worth approximately $20,619,000. Allianz Asset Management GmbH boosted its stake in shares of Hesai Group by 78.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,010,276 shares of the company’s stock worth $44,126,000 after acquiring an additional 882,180 shares during the last quarter. Finally, C WorldWide Group Holding A S purchased a new position in Hesai Group during the third quarter valued at $22,905,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

Hesai Group Trading Down 1.3%

Shares of NASDAQ HSAI opened at $28.18 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.75 and a quick ratio of 5.37. The stock has a market cap of $3.70 billion, a P/E ratio of 67.10 and a beta of 1.14. The firm has a 50-day moving average of $22.03 and a 200 day moving average of $23.55. Hesai Group has a 1 year low of $10.41 and a 1 year high of $30.85.

Hesai Group (NASDAQ:HSAI) last posted 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. The company had revenue of $111.72 million during the quarter, compared to analyst estimates of $116.11 million. Hesai Group had a return on equity of 8.04% and a net margin of 15.70%. As a group, sell-side analysts expect that Hesai Group will post -0.14 EPS 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.