Hesai Group (NASDAQ:HSAI) Coverage Initiated at BNP Paribas Exane

Investment analysts at BNP Paribas Exane started coverage on shares of Hesai Group (NASDAQ:HSAI) in a report issued on Thursday, MarketBeat.com reports. The firm set an “outperform” rating on the stock.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Hesai Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $29.96.

Hesai Group Stock Performance

Shares of HSAI opened at $18.44 on Thursday. The company has a quick ratio of 5.37, a current ratio of 3.73 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $25.22 and a two-hundred day simple moving average of $24.18. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 46.10 and a beta of 1.06. Hesai Group has a 52 week low of $10.41 and a 52 week high of $30.85.

Hesai Group (NASDAQ:HSAI) last posted its quarterly earnings data on Tuesday, March 24th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The company had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $155.57 million. Hesai Group had a net margin of 14.47% and a return on equity of 6.63%. On average, analysts expect that Hesai Group will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Hesai Group

Several large investors have recently made changes to their positions in HSAI. SBI Securities Co. Ltd. grew its position in shares of Hesai Group by 37.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock worth $61,000 after purchasing an additional 746 shares in the last quarter. Legal & General Group Plc purchased a new position in Hesai Group in the 3rd quarter worth approximately $71,000. Eurizon Capital SGR S.p.A. bought a new position in Hesai Group in the 4th quarter worth approximately $88,000. Leonteq Securities AG purchased a new stake in Hesai Group during the 4th quarter valued at approximately $106,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Hesai Group during the second quarter valued at approximately $108,000. 48.53% of the stock is currently owned by hedge funds and other institutional investors.

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.