Hesai Group Sponsored ADR (NASDAQ:HSAI) Receives Consensus Rating of “Buy” from Analysts

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $31.50.

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

Hedge Funds Weigh In On Hesai Group

Several hedge funds and other institutional investors have recently modified their holdings of HSAI. Bessemer Group Inc. grew its position in Hesai Group by 45.3% in the first quarter. Bessemer Group Inc. now owns 2,325 shares of the company’s stock valued at $44,000 after acquiring an additional 725 shares during the last quarter. Blue Trust Inc. acquired a new position in shares of Hesai Group in the first quarter valued at approximately $51,000. Summit Securities Group LLC acquired a new position in Hesai Group in the 1st quarter valued at approximately $56,000. SBI Securities Co. Ltd. increased its holdings in Hesai Group by 37.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,738 shares of the company’s stock valued at $61,000 after purchasing an additional 746 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Hesai Group in the third quarter valued at about $71,000. Institutional investors own 48.53% of the company’s stock.

Hesai Group Price Performance

Shares of HSAI opened at $17.79 on Tuesday. The company has a current ratio of 4.97, a quick ratio of 4.52 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $17.15 and its 200 day simple moving average is $21.48. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 0.65 and a beta of 1.37. Hesai Group has a 1-year low of $14.29 and a 1-year high of $30.85.

Hesai Group (NASDAQ:HSAI) last issued its earnings results on Friday, May 15th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $98.71 million during the quarter, compared to the consensus estimate of $96.50 million. Hesai Group had a net margin of 14.75% and a return on equity of 6.03%. On average, research analysts forecast that Hesai Group will post 0.66 earnings per share 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.